July 31 (Reuters) - Canada's main stock index gave back on Thursday some of its monthly gain, with energy and technology shares declining as investors assessed corporate earnings and uncertain prospects for a trade deal between Canada and the United States.
The S&P/TSX composite index (.GSPTSE), ended down 110.18 points, or 0.4%, at 27,259.78, extending its pullback from a record closing high on Tuesday. For the month, the index was up 1.5%, its third straight monthly gain.
"While corporate profits are in the spotlight this week and today ... we still have a relatively favorable backdrop as the U.S. and Canadian economies are holding up ok despite some of the trade uncertainty that still persists, especially in Canada," said Angelo Kourkafas, senior global investment strategist at Edward Jones.
Canadian decreased by 0.1% in May on a monthly basis but preliminary estimates showed the economy regaining the lost ground in June and posting annualized growth of 0.1% for the second quarter. The Bank of Canada has projected a second-quarter contraction of 1.5%.
U.S. President Donald Trump has intensified his trade war with Canada ahead of his August 1 deadline for a tariff agreement, saying it would be "very hard" to make a deal with Canada after it gave its support to Palestinian statehood.
The energy sector fell 1.2% as the price of oil settled 1.1% lower at $69.26 a barrel.
Technology lost 1% and industrials were down 0.8%.
Bombardier (BBDb.TO), shares dipped 0.7%. The business jet maker reported a slight drop in second-quarter revenue, though its net income beat analyst expectations.
Luxury goods maker Canada Goose Holdings (GOOS.TO), posted a bigger-than-expected quarterly loss. Its shares tumbled 14.3%, while shares of Bausch Health Companies (BHC.TO), ended 7.7% lower after the pharmaceutical firm reported its quarterly results.
Of ten major sectors, only materials (.GSPTTMT), which includes metal mining shares, ended higher. It rose 0.5% as the price of gold clawed back some recent declines.
Reporting by Fergal Smith in Toronto and Sanchayaita Roy in Bengaluru; Editing by Vijay Kishore and Marguerita Choy
