Canadian stock futures looked set to open lower on Friday as oil prices fell after data showed U.S. production rose last week, coinciding with a year-high rise in exports from the Organization of the Petroleum Exporting Countries.
The S&P/TSX Composite Index tumbled 75.12 points to close Thursday at 15,078. September futures skidded 0.2% early Friday.
The Canadian dollar inched forward 0.01 cents to 77.07 cents early Friday
Paramount Resources Ltd said on Thursday that it would buy the Canadian subsidiary of U.S. oil and gas firm Apache Corp for $459.5 million.
BMO cut the rating on Barrick Gold to market perform from outperform
Keybanc cut the rating on CCL Industries to sector weight from overweight
Raymond James raised the rating on Precision Drilling to strong buy from outperform
On the economic slate, Statistics Canada reported the economy created 45,000 jobs in June, bringing the unemployment rate down 0.1 percentage points to 6.5%.
Employment rose by 45,000 in June, mostly in part-time work. The unemployment rate was 6.5%, down 0.1 percentage points from the previous month.
Later this morning (10 a.m. EDT), Western University’s IVEY School of Business issues its Purchasing Managers Index for June.
ON BAYSTREET
The TSX Venture Exchange settled back 2.97 points Thursday to 759.83
ON WALLSTREET
U.S. stock index futures pointed to a mixed open on Friday morning as traders awaited the key release of official job creation figures.
Ahead of the opening bell, futures for the Dow Jones Industrials faded five points to 21,275. Futures for the S&P 500 nicked higher 1.25 points, or 0.1%, to 2,409.75. NASDAQ futures gained eight points, or 0.1%, to 5,604.75
There are no major companies expected to release earnings on Friday.
European markets eased early Friday afternoon, while Japan’s Nikkei 225 lost 0.3% and Shanghai’s CSI 300 deducted 0.1%.
Oil prices fell 96 cents to $44.56 U.S. per barrel.
Gold prices slid $1.80 to $1,221.50 U.S. an ounce.
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