Feb 14 (Reuters) - Canada's main stock index fell on Friday, weighed by declines for metal mining and consumer discretionary shares, as weaker-than-expected U.S. retail sales data and mixed corporate earnings encouraged investors to pocket much of this week's gains.
The S&P/TSX composite index (.GSPTSE), ended down 215.28 points, or 0.8%, at 25,483.23. For the week, the index was up 0.2%.
"With a long weekend approaching in North America, traders appear inclined to take profits following yesterday’s rally," Colin Cieszynski, chief market strategist at SIA Wealth Management, said in a note. "Soft US retail sales and mixed earnings don’t appear to be helping sentiment either."
U.S. retail sales dropped by the most in nearly two years in January, likely weighed down by frigid temperatures, wildfires and motor vehicle shortages, suggesting a sharp slowdown in economic growth early in the first quarter.
Canada sends about 75% of its exports to the United States which has threatened to impose tariffs on global trading partners.
As the threat of a trade war grows, Canadian investors are seeking protection in gold and in shares of companies producing goods with few substitutes, such as uranium, while looking to take advantage of a weaker loonie and expected volatility.
The materials group, which includes fertilizer companies and metal mining shares, fell 2.7% as copper and gold prices dropped. Gold was pulling back from a record high.
The price of oil settled 0.8% lower at $70.74 a barrel, which weighed on energy shares. The energy sector was down 1% and consumer discretionary ended 1.9% lower.
MTY Food Group (MTY.TO), shares tumbled 11.9% after the restaurant chain reported fourth-quarter revenue below estimates. Shares of Magna International (MG.TO), were down 4.7% after the auto parts maker cut its 2026 sales estimate and offered a weak revenue forecast for this year.
The TSX is set to be closed on Monday for the Family Day holiday.
Reporting by Fergal Smith in Toronto and Ragini Mathur in Bengaluru Editing by Sahal Muhammed and Matthew Lewis
