Canada's main stock index opened slightly in the green on Friday, as investors took a breather following strong mining sector gains in the previous session, while oil prices climbed on renewed fears of potential U.S. military action against Iran.
The TSX index gained 54.02 points to begin Friday at 33,056.72.
The Canadian dollar took on 0.18 at 72.73 cents U.S.
In corporate news, Aris Mining named Neil Woodyer as chief executive officer after markets closed on Thursday, while Capstone Copper's Australia-listed shares dropped 3.4% on Friday after a workers' strike forced a production halt in its mine in Mantoverde, Chile.
Aris shares began Friday up 36 cents, or 1.3%, to $27.41, while those for Capstone spiked 77 cents, or 5.5%, to $14.91.
On the economic beat, Statistics Canada reported retail sales hiked 1.3% to $70.4 billion in November. The nation’s number crunchers added sales were up in eight of nine subsectors, led by increases at food and beverage retailers.
ON BAYSTREET
The TSX Venture Exchange progressed 7.59 points, to 1,141.78.
The 12 TSX subgroups were evenly split, with materials and energy climbing 1.5% each, while gold was better by 1.2%.
The half-dozen laggards were weighed most by health-care, off 2%, while consumer discretionary stocks calmed 0.6% and consumer staples lost 0.3%.
ON WALLSTREET
The S&P 500 was little changed on Friday after the index, along with the two other major averages, posted back-to-back gains on easing
geopolitical fears.
The Dow Jones Industrials toppled 266.27 points to 49,117.74, dragged by a 2% slide in Goldman Sachs
The much-broader index picked up 7.58 points to 6,920.05.
The NASDAQ raced ahead 100.62 points to 23,536.63.
The 30-stock Dow is down 0.5% on the week. The S&P 500 and NASDAQ are on track for their second negative week in a row, with the former down 0.4% and the latter lower by 0.1%.
Stocks began their rebound on Wednesday after President Donald Trump called off his threatened tariffs on the imports of eight European nations, set to start Feb.1.
The president’s move came after Trump announced that he and NATO Secretary General Mark Rutte reached a “framework of a future deal with respect to Greenland.”
Trump had also told reporters on Wednesday that “we have a concept of a deal” with the Arctic island. To be sure, Greenland Prime Minister Jens-Frederik Nielsen said on Thursday he doesn’t know what’s in the “framework” deal that Trump announced, and stressed that any such deal must respect Greenland’s sovereignty and territorial integrity.
Prices for the 10-year Treasury eked higher, lowering yields to 4.25% Thursday’s 4.25%. Treasury prices and yields move in opposite directions.
Oil prices recovered $1.70 to $61.06 U.S. a barrel.
Gold prices leaped $35.80 to $4,949.20.
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