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Stocks Flat by Friday Noon

First Quantum, Altus in Spotlight

Canada's main stock index slipped on Friday, as a decline in metal prices dragged the materials sector lower, while a results miss from Altus Group weighed on the broader real estate index.

The TSX Composite had faded 4.33 points to reach Friday afternoon at 19,583.08. So far this week, the index has subsided 1.2%.

The Canadian dollar lost 0.09 cents at 72.32 cents U.S.

A decline of 55 cents, or 3.3%, in First Quantum shares to $16.29, also weighed on the materials index. Chinese copper miner Jiangxi Copper has increased its stake in the Canadian miner to 18.5% from 18.3%.

Altus Group tumbled $11.77, or 23% to the bottom of the TSX at $37.67, after the real estate fund intelligence provider reported lower-than-expected third-quarter results.

Stantec shares jumped $6.56, or 7.5%, to $93.74, leading individual stock gains, after the engineering and construction firm raised its full-year 2023 forecast.

Quebecor led gains on the capped communication services index with a rise of 83 cents, or 2.7%, to $31.13, after the telecom firm posted a rise in third-quarter profit.


The TSX Venture Exchange skidded 7.39 points, or 1.4%, to 507.55, or 3.4% so far this week.

Eight of the 12 TSX subgroups were lower, with real-estate dropping 1%, materials off 0.8%, consumer staples, sliding 0.5%.

The four gainers were led by energy, up 1.2%, information technology, up 0.5%, and communications, ahead 0.3%.


Stocks rose Friday as traders kept an eye on Treasury yields after the S&P 500 ended an eight-day run of gains.

The Dow Jones Industrials rebounded 175.39 points to 34,067.33.

The much-broader index regained 36.05 points to 4,383.40.

The NASDAQ triumphed 172.11 points, or 1.3%, to 13,692.68.

Trade Desk swooned 17% after the digital ad company offered weak revenue guidance for the fourth quarter. Elsewhere, hydrogen fuel cell company Plug Power cratered 41% on a wider-than-expected third quarter loss and a miss on revenue.

Wall Street also parsed fresh consumer sentiment data for November, which showed inflation expectations increased last month. The latest survey from the University of Michigan showed a reading of 60.4, a 5.3% decrease from a month earlier and below a Dow Jones forecast of 63.7.

Prices for the 10-year Treasury gained ground, lowering yields to 4.62% from Thursday’s 4.64%. Treasury prices and yields move in opposite directions.

Oil prices jumped $1.33 to $77.07 U.S. a barrel.

Gold prices sank $26.20 to $1,943.60.