Canadian Stocks End Strong Week On Downbeat Note -- Canadian Commentary

(RTTNews) - Canadian stocks saw a four-day win streak come to an end Friday, with losses most pronounced in the energy and health care sectors.

Renewed concerns about the global economy prompted traders to take profits after strong gains earlier in the week.

Miners continued to recover, putting a cap on today's retreat.

The S&P/TSX Composite Index was down 118 points, or 0.91 percent, to 12,813.40.

The Energy Index was down 1.5 percent, as crude oil tumbled below $30 a barrel on diminished hopes of a deal to trim global output.

Cenovus and Encana shares were cut to junk by Moody's. Encana plunged 11 percent.

Enbridge Inc. (ENB.TO) reported earnings for its fourth quarter that advanced 21 percent from last year. The stock fell 2 percent.

Base metal shares rose 1.3 percent.

First Quantum Minerals Ltd. (FM.TO) revealed a profit for fourth quarter that plunged 75 percent compared to the same period last year. The stock was up 7.5 percent.

In economic news, Canadian retail sales fell at the fastest pace in more than five years in December, dropping 2.2 percent to C$43.2 billion.