Equities in Canada’s largest market opened lower on Friday, as energy shares tumbled after oil prices fell to their lowest in more than a year.
The S&P/TSX Composite Index flopped 74.37 points to start Friday at 15,017.25
The Canadian dollar dropped 0.3 cents at 75.51 U.S.
Raymond James cut the target price on Biosyent to $11.00 from $12.50. Biosyent shares were unchanged at $7.15.
CIBC cut the rating on Cardinal Energy to neutral from outperform. Cardinal shares skidded 11 cents, or 3.6%, to $2.97.
Canaccord Genuity cut the target price on Entrec to $0.20 from $0.25. Entrec shares gave back 1.5 cents, or 8.1%, to 17 cents.
Canaccord Genuity raised the target price on Tervita to $13.50 from $12.50. Tervita acquired a penny per share to $9.53.
The leaders of the world's two largest economies are expected to hold talks during the G20 summit in Buenos Aires next week as their trade ties become increasingly fraught.
On the economic slate, Statistics Canada reported that the consumer price index rose 2.4% year over year in October, following a 2.2% increase in September. On a seasonally-adjusted monthly basis, the CPI was up 0.3% in October, after declining 0.1% in September.
Retail sales edged up 0.2% to $50.9 billion in September after a fairly flat August.
The jump was powered by food and beverage stores, while sales were down at gasoline stations.
ON BAYSTREET
The TSX Venture Exchange eked higher 0.57 points to 603.01
The 12 subgroups were evenly split, with health-care gaining 1%, consumer staples up 0.4%, and consumer discretionary scaling 0.3%.
The half-dozen laggards were weighed most by energy, faltering 2.9%, while gold and materials each surrendered 1.7%.
ON WALLSTREET
Stocks fell on Friday as some of the most popular technology shares were under pressure once again, while a steep drop in oil prices also weighed on equities.
The Dow Jones Industrial Average weakened 115.5 points to 24,349.19.
The S&P 500 let go of 11.69 points to 2,638.24, while the NASDAQ slumped 5.17 points to 6,967.08
U.S. markets were closed Thursday for Thanksgiving. Friday's session is scheduled to be abbreviated with the New York Stock Exchange and NASDAQ both due to close early at 1 p.m. ET.
Facebook, Apple and Google-parent Alphabet all traded down at least 0.4%. These stocks, which make up the popular "FAANG" trade, have already fallen sharply this week. In that time period, they have all fallen at least 2.3% through Wednesday's close.
Among energy issues, shares of Helmerich & Payne, Concho Resources and TechnipFMC weighed things down.
Prices for the benchmark for the 10-year U.S. Treasury were higher, lowering yields to 3.04% from Wednesday’s 3.06%. Treasury prices and yields move in opposite directions
Oil prices dropped $3.29 to $51.34 U.S. a barrel.
Gold prices slid $4.40 at $1,223.60 U.S. an ounce.
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