2 Min Read
(Updates throughout with analyst comment, TSX moves)
* TSX down 21.6 points, or 0.14 percent, to 15,182.01
* Five of the TSX's 10 main groups are down
By Solarina Ho
TORONTO, May 22 (Reuters) - Canada's main stock index retreated on Friday, weighed down by cooling energy and financial stocks, with investors taking some profits after making gains in four of the previous five sessions.
The top 10 biggest drags on the TSX were either in energy or financials. Enbridge Inc was the most influential loser on the index, falling 0.94 percent to C$62.08. Bank of Nova Scotia followed with a 0.6 percent loss to C$64.60.
The overall energy sector retreated 0.5 percent, as a stronger U.S. dollar outweighed geopolitical worries in the Middle East and helped push oil prices lower.
U.S. crude were down 1.5 percent to $59.80, while Brent crude lost 1.6 percent to $65.45.
Financials gave back 0.4 percent.
"This is a market that's rallied quite strongly over the past little while. Essentially the market's just a little tired right now," said John Stephenson, President & CEO of Stephenson & Company Capital Management.
"I honestly don't see any problem going higher, but right now it's a long weekend in the U.S. coming up, and I think people are a little fatigued truthfully ... You also have commodity prices weaker, which is a big driver."
Many markets will be closed on Monday for the Memorial Day holiday in the United States and a public holiday in much of Europe.
At 11:11 a.m. EDT (1511 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 21.6 points, or 0.14 percent, to 15,182.01.
Half of the index's 10 main groups were in negative territory.
Countering some of the losses was a 0.4 percent gain among tech companies and a 0.8 percent gain in healthcare.
Valeant Pharmaceutical International shares rose 2.3 percent to C$291.65.
Declining issues outnumbered advancing ones on the TSX by 138 to 98, for a 1.41-to-1 ratio on the downside. (Reporting by Solarina Ho; Editing by Meredith Mazzilli)