* TSX down 0.74 percent at 10,595.77
* Financials retreat 0.89 percent
* Energy falls 0.73 percent, as oil price drops (Adds details, quote)
By Nina Lex
TORONTO, July 24 (Reuters) - Toronto's main stock index was lower on Friday morning, weighed down by retreating financial and energy issues.
The financial sector, which accounts for one third of the index, fell 0.89 percent as investors looked to pocket profits after yesterday's gains, while disappointing results from Microsoft Corp (MSFT.O) and Amazon.com Inc (AMZN.O) curbed sentiment.
"I think financials have had big a charge up and people are taking a few profits," said Douglas Davis, chief executive officer at Davis-Rea.
The mining-laden material sector was up 0.1 percent as gold held above $950 an ounce.
"Materials have been pretty strong as people think things are improving. The materials sector overall is going to do well," said Davis.
At 10:20 a.m. (1420 GMT), the S&P/TSX composite index .GSPTSE was down 80.24 points, or 0.74 percent, at 10,595.77. Nine of its 10 main groups were lower.
$1=$1.08 Canadian Reporting by Nina Lex; editing by Rob Wilson