Equities in Toronto were stronger at Friday’s open, helped by gains for mining stocks including Teck Resources, which will raise $1.2 billion in an asset sale.
The S&P/TSX Composite Index moved upward 50.75 points to begin Friday trading at 15,601.30
The Canadian dollar fell 0.03 cents to 72.94 cents U.S.
Teck shares took on 63 cents, or 2.5%, to $25.43.
In the gold sector, IAMGOLD added 14 cents, or 2.4%, to $5.89, while Kinross Gold climbed nine cents, or 1.6%, to $5.71.
Home Capital Group disclosed data on Friday that showed the rate of withdrawals by depositors slowed for a second day in a row. Home Capital shares continued on their dipsy-doodle path, losing $1.20, or 11.1%, to $9.61.
Amaya Inc., the owner of online gambling sites PokerStars and Full Tilt, reported an 18.5% increase in quarterly profit, as it attracted more customers. Amaya shares gained 47 cents, or 1.8%, to $26.12
Enbridge said on Thursday it may acquire more assets and forecast a rise in adjusted earnings this year following its purchase of Spectra Energy Corp.
Enbridge shares gained 19 cents to $54.96.
CIBC cut the target price on Aimia Inc. to $3.25 from $8.00. Aimia shares screamed higher 51 cents, or 15.3%, to $3.84.
CIBC raised the target price on Linamar Corp. to $69.00 from $65.00. Linamar shares dived 84 cents, or 1.3%, to $62.99.
Cowen and Company raised the target on Westport Fuel Systems to $1.50 from $1.25. Westport shares took on nine cents, or 4.8%, to $1.95.
ON BAYSTREET
The TSX Venture Exchange acquired 5.14 points to 788.38
All but two of the 12 TSX subgroups were higher to start the trading day, with gold hiking 1.3%, materials progressing 1%, and consumer discretionary stocks up 0.5%.
The two laggards proved to be financials, sinking 0.2%, and information technology, dropping 0.1%.
ON WALLSTREET
U.S. equities fell on Friday as investors digested a tough week for retailers.
The Dow Jones Industrials Average traded lower by 24.79 points to begin Friday at 20,894.63, with UnitedHealth contributing the most losses.
The S&P 500 inched faded 3.78 points to 2,390.66, with financials lagging
The NASDAQ inched up 1.57 points to 6,117.54
The fall in retailers came after J.C. Penney's stock dropped 10% in early trade. The company reported mixed quarterly results, with earnings topping expectations but same-stores sales fell more than expected.
Several retailers, including Macy's and Nordstrom, have seen their stocks tank this week after reporting weaker-than-expected quarterly results, putting the sector under pressure.
Investors kept a close eye on the retail space as they assessed the strength of the U.S. consumer, a key component of the U.S. economy.
In economic news, the U.S. Commerce Department said retail sales increased 0.4% in April from March, less than expected.
Meanwhile, consumer prices rose 0.2% in April, in line with expectations. In the 12 months through April, the CPI increased 2.2%
While that was a slowdown from March's 2.4% increase, the year-on-year gain in the CPI was still larger than the 1.7% average annual increase over the past 10 years.
Prices for the benchmark 10-year Treasury note moved up sharply, lowering yields to 2.34% from Thursday’s 2.39%. Treasury prices and yields move in opposite directions.
Oil prices dropped one cent at $47.82 U.S. a barrel
Gold prices picked up $5.30 at $1,229.50 U.S. an ounce.
