Stocks Enjoy Boost at Open

ATS, Lundin in Focus

Stocks in Toronto moved higher Friday morning as resource stocks helped propel the market higher, while Home Capital Group also gained after it said its savings deposit balances rose.

The S&P/TSX Composite Index gained 72.16 points to open the week’s final session at 15,349.36

The Canadian dollar hiked 0.24 cents to 73.71 cents U.S.

Markets are to be shuttered Monday in Canada for Victoria Day.

Home Capital Group on Thursday published data showing that its high-interest savings account balances had risen on Wednesday but its cashable guaranteed income certificate deposits continued to fall.

Home Capital shares picked up 17 cents, or 1.9%, to $9.04.

TD Securities raised the target price on ATS Automation Tooling Systems to $14.50 from $13.00. ATS shares zoomed 47 cents, or 3.8%, to $12.85.

Berenberg raised the rating on Lundin Mining to buy from hold. Lundin shares gained 17 cents, or 2.3%, to $7.54.

Economically speaking, Statistics Canada reported this country’s consumer price index gained 1.6% on a year-over-year basis in April, matching the increase in March. On a seasonally-adjusted monthly basis, CPI was up 0.5% in April, after decreasing 0.2% in March.

Elsewhere, retail sales rose 0.7% in March to $48.3 billion, following a 0.4% decline in February, and on the strength of higher sales at motor vehicle and parts dealers. Sales were up in six of 11 sub-sectors, representing 53% of total retail trade.


The TSX Venture Exchange dropped 2.54 points to 798.34

All but two of the 12 TSX subgroups were higher to start out, with materials growing 0.8%, energy gushing 0.7%, and gold up 0.6%

The two laggards were telecoms, down 0.02%, and consumer staples, off 0.01%.


U.S. equities kicked off Friday's session higher as traders hoped that concerns around Donald Trump's presidency may have been exaggerated.

The Dow Jones Industrials Average strengthened 78.28 points to 20,741.30, with Caterpillar contributing the most gains.

The S&P 500 vaulted 12.95 points to 2,378.67, with information technology leading advancers.

The NASDAQ marched ahead 36.71 points to 6,091.84.

Trump made his first trip overseas since taking office on Friday, first traveling to Saudi Arabi, which is planning to buy billions of dollars worth of U.S. arms.

In economic news, there were no major data released Friday. However, St. Louis Federal Reserve President James Bullard said the central bank's plans to raise rates may be too fast.

Prices for the benchmark 10-year Treasury note were slightly lower, raising yields to 2.25% from Thursday’s 2.23%. Treasury prices and yields move in opposite directions.

Oil prices gained 82 cents at $50.17 U.S. a barrel

Gold prices gained back 60 cents at $1,253.40 U.S. an ounce.