Canada's main stock index was set to open lower on Friday, as turmoil in the European banking sector soured the mood in markets, with declining crude oil prices adding to the pressure.
The TSX ditched 72.86 points to conclude the session Thursday at 19,459.92.
March futures on the S&P/TSX index tumbled 0.7% Friday morning.
The Canadian dollar removed 0.4 cents to 72.47 cents U.S.
Among company news, Enbridge said it was "disappointed" by the U.S. Army Corps of Engineers' decision to extend the federal permitting process for the oil distributor's proposed Great Lakes Tunnel.
Western Copper and Gold said Mitsubishi Materials Corp has agreed to acquire a 5% stake in the miner for $2.63 per share.
On the economic front, Statistics Canada reported retail sales hiked 1.4% to $66.4 billion in January. Sales increased in seven of nine subsectors and were led by increases at motor vehicle and parts dealers and gasoline stations and fuel vendors.
ON BAYSTREET
The TSX gained 2.63 points Thursday to 609.65.
ON WALLSTREET
Stock futures fell Friday as a plunge in shares of Deutsche Bank in Europe raised investor fears about the banking sector once again.
Futures for the Dow Jones Industrials collapsed 331 points, or 1%, early Friday to 31,988.
Futures for the S&P 500 fell 34.5 points, or 0.9%, to 3,943.50.
Futures for the NASDAQ Composite retreated 66.5 points, or 0.5%, to 12,787.50.
For the week, the Dow and S&P 500 are up around 0.8% each, while the NASDAQ has gained 1.4% through Thursday’s close.
Deutsche Bank’s U.S.-listed shares slid about 11% in the premarket after the German lender’s credit default swaps jumped, but without an apparent catalyst. The move appeared to raise concerns once again over the health of the European banking industry. Earlier this month, Swiss regulators forced a UBS acquisition of rival Credit Suisse.
Shares of major U.S. banks were also under pressure. Bank of America, JPMorgan Chase and Wells Fargo fell more than 2% each. Meanwhile, Citigroup fell more than 3%.
In Japan, the Nikkei 225 slipped 0.1% Friday, while in Hong Kong, the Hang Seng fell 0.7%.
Oil prices ducked $2.53 to $67.43 U.S. a barrel.
Gold prices climbed $8.50 to $2,004.50 U.S. an ounce.
