Toronto stocks were lower Friday morning as investors moved to lock in profits following a three-day rally. At midday, the S&P/TSX composite index was down 23.23 points, or 0.25%, at 9,151.18. Volume was 129 million shares.

Eight of the 10 TSX main groups were down.

Energy issues retreated 0.64% as oil prices eased to US$48.49 ahead of an OPEC meeting this weekend, where the group is expected to maintain current output quotas.

Suncor Energy shares were down 16¢, or 40%, at $39.94.

The heavily weighted financial group was down 0.35%. TD Bank eased 45¢, or 0.92%, to $48.55. Bank of Nova Scotia fell 11¢, or 0.28%, to $39.51.

Among individual stocks, Molson shares were of 10¢, or 0.26%, at $38.25, after shareholders voted in favor of a plan to merge with U.S.-based Adolph Coors at a special meeting.

Shares in Celestica headed lowe, a day after the maker of electronics components posted a big quarterly loss and announced plans to cut up to 15% of its global workforce, about 5,500 jobs, by early next year. Celestica shares were down 60¢, or 3.61%, to $16.00.

Cott the world’s biggest bottler of private-label soft drinks, said its fourth-quarter profit softened to US$11.4 million, from US$16.6 million a year earlier, despite record revenue. Cott shares were down 72¢, or 2.4%, at $29.23.

The junior S&P/TSX Venture composite index was off 0.74 of a point at 1,803.22.

On Wall Street, U.S. stocks were weighed down by McDonald’s, which reported disappointing results.

Also in the spotlight were Procter & Gamble and Gillette Co. P&G said it would buy Gillette for about US$57 billion in stock to form a consumer products powerhouse. Gillette rose 12% to US$51.20, while P&G shares slid 2.6% to US$53.87, dragging down the Dow.

The Dow Jones Industrial average was down 57.12 points, or 0.55%, at 10,410.28. The tech-heavy Nasdaq composite index was off 15.66 points, or 0.76%, at 2,031.49, and the S&P 500 was down 5.99, or 0.51%, at 1,168.56.