Stocks in Canada’s biggest centre bounced after two straight days of losses tracking U.S. peers, while investors looked past a surprise jump in producer prices in October.
The TSX Composite regained 49.78 points to open Friday at 19,934.36.
The Canadian dollar doffed 0.4 cents to 74.65 cents U.S.
Among stocks, Rio Tinto Ltd said it would plow ahead with a $3.3-billion bid to buy the 49% of Turquoise Hill Resources it does not already own, after it ended talks with dissenting minority shareholders.
Shares in Turquoise Hill climbed 53 cents, or 1.3%, to $41.82.
It’s a full macroeconomic day, as Statistics Canada said its raw materials price index increased 1.3% on a monthly basis in October, and posted a 9.0% year-over-year increase, while its industrial product price index rose 2.4% on a monthly basis in October, and increased 10.1% year over year
What’s more, the agency said non-resident investors reduced their exposure to Canadian securities by $22.3 billion in September, mainly in the form of federal government debt securities and Canadian shares. Meanwhile, Canadian investors acquired $9.6 billion of foreign securities, led by an unprecedented investment in foreign bonds.
ON BAYSTREET
The TSX Venture Exchange staggered 4.12 points to 578.45.
Eight of the 12 TSX subgroups recovered lost ground, led by consumer discretionary stocks, up 1.1%, while industrial and communications each picked up 1.1%.
ON WALLSTREET
Stocks rose Friday as investors pored over the latest earnings reports and tried to shake off tougher language from Federal Reserve speakers.
The Dow Jones Industrials recovered 107.59 points to 33,653.91
The S&P 500 regained 10.38 points to 3,956.94
The NASDAQ moved higher 5.36 points to 11,150.31.
The S&P and NASDAQ are on pace for down weeks, the S&P trading lower by 0.5% and NASDAQ off 1%. The Dow is currently flat for the week. All three are positive for the month, however.
Ross Stores and Palo Alto Networks popped after the two companies posted their latest quarterly results. Investors also appeared to cheer Gap’s most recent results.
Prices for the 10-year Treasury fell slightly, raising yields to 3.79% from Thursday’s 3.77%. Treasury prices and yields move in opposite directions.
Oil prices flopped $3.41 to $78.23 U.S. a barrel.
Gold prices doffed $8.50 to $1,754.50 U.S. an ounce.
