TSX Snaps Monumental Win Streak -- Canadian Commentary

(RTTNews) - Canadian stocks nudged lower Friday, ending an eight-day win streak that led to record highs for Toronto's main index.

With financials taking a breather after a significant uptrend, the S&P/TSX Composite Index was down 25.54 points, or 0.16 percent, to 15,838.63.

Gold shares struggled throughout the session, while weakness emerged in the energy sector as crude oil remained stuck near $53 a barrel.

Data from Baker Hughes Friday revealed that the number of active U.S. rigs drilling for oil rose by 6 to 597 rigs this week, for the fifth weekly increase in a row.

Looking at corporate headlines, Saputo Inc. (SAP.TO) issued a nationwide recall of certain gouda cheese products due to listeria worries. Shares were up fractionally.

Air Canada (AC.TO) reported a bigger quarterly loss as its load factor fell. The airline says margins will be tight this quarter due to rising fuel costs. Shares fell 8.5 percent.

Pipeline giant Enbridge Inc. (ENB.TO) reported a 3.4 percent fall in fourth-quarter profit on restructuring charges. Shares slipped 0.9 percent.

Enbridge has bought a 49.9 percent stake in EnBW's 1.8 billion euro North Sea offshore park.

Sherritt (S.TO) is considering a full exit from its Madagascar mine project to reduce debt, Globe and Mail reports. Shares tumbled 9.9 percent.

Bombardier (BBD.B.TO) had its price target raised from $2.50 to $2.75 at CIBC, after reporting its quarterly loss narrowed. Shares rose 1.2 percent.

Crescent Point (CPG.TO) jumped 7.7 percent after a report of activist interest.