Markets in Toronto opened lower on Friday as fresh concerns about China weighed on materials and energy stocks.
The S&P/TSX composite index removed 0.41 points to open Friday’s session at 13,424.78.
The Canadian dollar regressed 0.42 cents to 74.82 cents U.S.
Ontario and Quebec gave better than expected budget updates on Thursday, as Ontario got help from the initial public offering of utility Hydro One and Quebec clamped down on spending.
Hydro One shares, incidentally, opened up eight cents Friday to $22.73.
Federal International Development Minister Marie-Claude Bibeau said on Thursday Canada will give an extra $100 million to the United Nations' refugee agency to help it deal with the Syrian crisis.
Desjardins cut the target price on Jean Coutu Group to $21.00 from $23.00. Coutu shares plummeted $1.05, or 5.6%, to $17.75.
On the economic beat, Statistics Canada reported that its industrial product price index declined 0.5% in October – mostly due to lower vehicle prices, while its raw materials price index rode crude energy prices higher by 0.4% in the same month.
ON BAYSTREET
The TSX Venture Exchange deleted 1.12 points to 520.61.
Seven of the 13 TSX subgroups weakened Friday, with metals and mining drooping 2.4%, gold down 1.6%, and materials off 1.4%.
The half-dozen gainers were led by consumer discretionary plays, up 0.4%, while telecoms and industrials picked up 0.3% each.
ON WALLSTREET
U.S. stocks mostly dipped Friday, weighed by a decline in Disney stock and lower oil prices, as investors viewed preliminary Black Friday shopping results.
The Dow Jones industrial average retreated 48.64 points to open the shortened session at 17,764.75
The S&P 500 was down 1.02 points to 2,087.85, as the energy sector fell nearly 1% following a 2% decline in WTI crude.
The NASDAQ index added 2.69 points to 5,118.83
Disney fell more than 3% after regulatory filings showed the number of subscribers to the firm's ESPN sports network declined more than 3% from the previous fiscal year.
Target said Black Friday weekend shopping got off to a good start with "unprecedented" results on Target.com and "a strong turnout" at stores Thanksgiving Day. The stock struggled to hold gains in morning trade.
U.S. stock markets close at 1 p.m. EST on Friday.
Prices for 10-year U.S. Treasuries gained a bit, lowering yields to 2.22% from Wednesday’s 2.23%. Treasury prices and yields move in opposite directions.
Oil prices let go of 94 cents a barrel to $42.10 U.S.
Gold prices dipped $14.42 to $1,057.91 U.S. an ounce.
