Canada’s S&P/TSX Composite index inched lower on Friday, underperforming its US counterparts on pressure from energy producers and banks as markets parsed a batch of earnings reports. Crude oil prices pulled back for a second session despite the continued impasse between Iran and the US, which prolonged the blockade against tankers and vessels in the region. Canadian Natural and Suncor were both around 1% lower. Meanwhile, heavyweight banks dropped on the pessimistic spending demand highlighted by the domestic GDP report released yesterday, with TD and RBC trading in the red. Meanwhile, Fairfax Financial slumped 5% after missing its earnings estimate. Similarly, Magna fell 5% on not meeting orders expectations. Also, TC Energy and Agnico Eagle Mines fell over 1% after the release of its quarterly report. Lastly, Air Canada dropped 1.5% after abandoning this year’s guidance.

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