Negative Open Friday on TSX

Energy shares weigh heaviest

Canada's main stock index fell at open on Friday as lower oil prices that hit multi-month lows pulled down energy shares.

The S&P/TSX Composite Index wilted 95.54 points to open the final session of the week at 15,261.93

The Canadian dollar skidded 0.31 cents to 75.77 cents U.S.

Germany's antitrust regulator on Friday approved the planned merger of department store chains Kaufhof and Karstadt, owned by Hudson's Bay Co and Austria's Signa Holding.

Bay shares dropped eight cents to $8.83

Barclays raised the target price on Canadian Tire to $193 from $190. Canadian Tire fell $1.65, or 1%, to $164.45.

RBC raised the rating on Industrial Alliance Insurance to outperform from sector perform. Industrial Alliance shares gained 74 cents, or 1.5%, to $48.94.

Canaccord Genuity raised the rating Precision Drilling to buy from hold. Precision shares took on four cents, or 1.2%, to $3.50.

Canaccord Genuity cut the rating Trinidad Drilling to hold from buy. Trinidad shares were static at $1.68.

CIBC cut the rating on Stantec to neutral from outperform. Shares in Stantec sank $1.75, or 5.1%, to $32.48.


The TSX Venture Exchange lost 6.15 points to 660.91

Seven of the 12 subgroups were lower, as health-care scaled back 2.5%, while materials eased 2%, and gold dulled in price 1.8%

The five gainers were led by communications, up 0.6%, industrials, better by 0.4%, and financials, inching up 0.1%.


Stocks fell on Friday as further losses in oil prices sparked fears of a global economic slowdown, but the major indexes were still on pace for solid weekly gains.

The Dow Jones Industrials jettisoned 170.56 points to begin Friday at 26,020.66, as Caterpillar losses offset gains from Disney.

The S&P 500 sagged 25.42 points to 2,781.41, led lower by energy shares and tech.

The NASDAQ dipped 109.69 points, or 1.5%, to 7,421.20

The S&P 500 was up 3.1% and Dow gained 3.6% for the week through Thursday's close. The NASDAQ, meanwhile, was up 2.4%.

On the earnings front, Yelp shares plunged more than 25% in the after releasing its latest quarterly results. Dow-member Disney, meanwhile, rose 2.7% on the back of better-than-expected results.

Prices for the benchmark for the 10-year U.S. Treasury sagged, raising yields to 3.20% from Thursday’s 3.24%. Treasury prices and yields move in opposite directions.

Oil prices lost $1.14 to $59.53 U.S. a barrel.

Gold prices subtracted $13.40 an ounce to $1,211.70 U.S.