Canada's main stock index fell on Thursday in a broad retreat from an all-time high hit a day earlier, as financial stocks and energy companies weighed, with Cenovus Energy Inc (CVE.TO) down sharply after announcing a fresh round of job cuts.

The energy group retreated 1.4 per cent overall despite higher global oil prices, with Cenovus down 5.1 per cent to $11.26 as the oil sands company also announced the departure of three senior executives.

The Toronto Stock Exchange's S&P/TSX composite index closed down 120.13 points, or 0.74 per cent, at 16,016.46.

All 10 of the index's main sectors fell, with decliners outnumbering advancers by a ratio of 2.7-to-1 overall.

The financials group, which accounts for more than a third of the index's weight, lost 0.6 per cent.

Drug company Valeant Pharmaceuticals International Inc (VRX.TO) fell 11.3 per cent to $25.11 after JPMorgan cut the stock to "underweight."

Bombardier Inc (BBDb.TO) lost 1.9 per cent to $3.07 after the plane and train maker forecast 2018 revenue well short of analysts' estimates.

The largest percentage gainer was Mitel Network Corp (MNW.TO), which rose 10.7 per cent to $10.46 after brokerage Craig-Hallum started coverage with a "buy" recommendation.