Equities in Toronto strengthened in early trade on Friday, as energy stocks broadly gained with higher oil prices and Bombardier Inc shares weighed after Boeing asked the U.S. government to investigate pricing of the company's new jet.
The S&P/TSX Composite Index gained 70.34 points to begin Friday at 15,576.81
The Canadian dollar sank 0.09 cents at 73.23 cents U.S.
Bombardier shares fell 10 cents, or 4.6%, to $2.10.
Thomson Reuters reported higher first-quarter revenue and reaffirmed its full-year sales outlook. Its shares climbed $2.34, or 3.9%, to $62.00.
Canadian alternative lender Home Capital Group Inc said on Thursday the Healthcare of Ontario Pension Plan (HOOPP) agreed to provide a $2-billion credit line to its unit Home Trust.
Home Capital gained 26 cents, or 3.2%, to $8.28.
National Bank of Canada raised the price target on Jean Coutu Group to $25.00 from $22.00. Coutu shares subtracted 87 cents, or 2.9%, to $22.65.
CIBC raised the target price on Maple Leaf Foods to $36.00 from $35.00. Maple Leaf shares gained $1.09, or 3.3%, to $33.91.
CIBC cut the target price on TFI International to $35.00 from $38.00. TFI shares nicked ahead four cents to $29.28.
On the data front, Statistics Canada reported that gross domestic product was unchanged in February following three months of growth. Gains in service-producing industries were offset by declines in goods-producing industries.
While that will mark a step down from January's strong 0.6% pace, analysts still expect the economy is on track for a solid first quarter.
The agency’s industrial product price index rose 0.8% in March, mainly due to higher prices for motorized and recreational vehicles and primary non-ferrous metal products.
The raw materials price index fell 1.6% during the same month, primarily due to lower prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange regained 2.88 points to 803.29
Seven of the 12 TSX subgroups were positive to begin the week’s and month’s last session, with gold up 1.7%, materials ahead 1.5%, and energy surging 1.3%.
The four laggards were weighed most by telecoms, real-estate and utilities, each down 0.2%. Consumer discretionary shares were unchanged in the first hour of trade.
ON WALLSTREET
U.S. equities opened mixed Friday as investors pondered weak economic data and digested key corporate earnings.
The Dow Jones Industrial Average slid 44.45 points to 20.936.88, with Intel contributing the most losses.
The S&P 500 faded 3.11 points to 2,385.66, with energy leading advancers.
The NASDAQ Composite gained 3.6 points to 6,052.54
General Motors reported earnings per share of $1.70 on sales of $41.2 billion U.S., versus expectations of $1.46 per share and $40.75 billion U.S.
Amazon revealed EPS of $1.48 on sales of $35.7 billion, versus expectations of $1.12 earnings per share on sales of $35.3 billion U.S.
Alphabet reported EPS of $7.73 on revenue of $24.75 billion, versus estimates of $7.39 earnings per share on sales of $24.22 billion U.S.
The U.S economy grew at a rate of 0.7% in the first quarter, the Commerce Department said. Economists expected growth of 1.2%, But the latest survey tracked economic growth at 0.8%.
Prices for the benchmark 10-year Treasury note were unchanged, keeping yields at Thursday’s 2.3%.
Oil prices gained 54 cents at $49.51 U.S. a barrel
Gold prices gained $1.30 at $1,267.20 U.S. an ounce.
