Equities in Canada’s largest market opened lower on Friday, led by declines in energy and mining stocks, with most investors cautious ahead of next week’s federal election.
The TSX Composite dipped 61.07 points, to begin Friday at 20,541.03
The Canadian dollar edged up 0.05 cents to 78.91 cents U.S.
On the corporate front -- TC Energy has signed a deal to sell its remaining 15% stake in the Northern Courier Pipeline to a partnership that includes Suncor Energy and eight Indigenous communities. Financial terms of the agreement were not disclosed.
ON BAYSTREET
The TSX Venture Exchange subtracted 2.01 points to 893.87.
All but two of the 12 TSX began the session lower, with energy sliding 1.32% and gold off 1.12%.
On the upside, industrials rose 0.31% and real estate issues inched up 0.05%.
ON WALLSTREET
Stocks edged lower on Friday morning as investors remain cautious due to a resurgent Covid virus and a Federal Reserve meeting next week.
The Dow Jones Industrial Average lost about 80 points. The S&P 500 shed 0.4% and the Nasdaq Composite lost 0.4%.
The Federal Open Market Committee's (FOMC) two-day policy meeting next week should provide some clarity on the outlook for tapering and interest rates.
Shares of Invesco jumped 7% after the Wall Street Journal reported the money manager is in talks to combine with State Street’s asset-management business. Invesco manages about $1.5 trillion.
The yield on the benchmark 10-year Treasury note advanced by 1.4 basis points to 1.345%. The yield on the 30-year Treasury bond fell less a basis point to 1.889%. Yields move inversely to prices.
WTI futures for October delivery fell 50 cents from last night's close to trade at $72.11 per barrel while Brent contracts for November fell 29 cents to $75.38 per barrel.
Spot gold rates were flat at $1,754.86 per ounce after a sharp fall in the previous session.
