TSX Up 6% For The Year, Weed Stocks Grow Like Wild -- Canadian Commentary

(RTTNews) - Canadian stocks edged lower Friday, ending 2017 on a slightly sour note amid profit-taking in the red-hot marijuana sector.

Canopy Growth, Aurora and MedReleaf all had shares temporarily halted for big swings.

The rest of the market was relatively quiet, however, with many traders getting a head start on the New Years party.

The TSX Composite Index lost 12.82 points to 16,209.13. Still, that's just off yeterday's record highs, and the TSX was up 6% on the year. Analysts say low interest rates, stable oil prices and the U.S. economic recovery helped Canada.

Energy stocks were lackluster today. Baker Hughes weekly data showed the number of Canadian oil rigs was down sharply last week.

West Texas Intermediate oil for February ends up 58 cents, or 1%, at $60.42/bbl. It was first time oil finished above $60 since 2015.

February gold rose $12.10, or 0.9%, to settle at $$1,309.30/oz.

Gold has risen sharply at the end of year due to dollar weakness and expectations the Federal Reserve will keep interest rates on hold until later in the year.

In corporate news, Bombardier (BBD.TO) announced its third major order in as many days. EgyptAir wants 12 CSeries jets.