(CORRECTS TSX OPENING FIGURE)
Canada's main stock index fell to a two-week low on Friday, pressured by declines in energy, financial and industrial shares as oil prices fell and global investors worried about a trade war.
The S&P/TSX Composite Index fell 61.76 points to start Friday’s session at 15,332.19
The Canadian dollar lost 0.33 cents to 77.6 cents U.S.
Canadian marijuana producer Canopy Growth will list on the NASDAQ "in due course," Chief Executive Officer Bruce Linton said on Thursday.
Canopy shares descended 27 cents to $29.69.
Bank of Montreal on Thursday unveiled plans to open a new office in Toronto where the now bankrupt Sears Canada's headquarters used to be.
Shares in the "First Canadian Bank" were off 46 cents to $96.98.
TD Securities cut the target price on Crescent Point Energy to $14.50 from $15.50. Crescent shares gave up two cents to $8.44.
Eight Capital raised the target price on Toronto-Dominion Bank to $86.00 from $76.00. TD shares lost 61 cents to $74.31.
On the data front, Statistics Canada reported that real gross domestic product grew 0.4% in the fourth quarter, the same rate as the previous quarter. Final domestic demand increased 1.0%. Real GDP edged up 0.1% in December as 13 of 20 industrial sectors increased. This followed a 0.4% gain in November.
Bank of Canada Governor Stephen Poloz said markets are adapting to making their own forecasts on where interest rates are going, though he acknowledged the decision to drop forward guidance four years ago has met some criticism.
ON BAYSTREET
The TSX Venture Exchange moved down 5.29 points to 824.03
Eight of the 12 TSX subgroups were negative in the first hour, with health-care scaling back 1.9%, energy slumping 1.5%, and financials down 0.7%.
The four gainers were led by gold, shining 1.5% brighter, telecoms, better by 0.5%, and materials, up 0.4%.
ON WALLSTREET
U.S. stocks traded sharply lower on Friday on fears that a trade war could take place after President Donald Trump announced tariffs on steel and aluminum imports.
The Dow Jones Industrials shed 338.74 points, or 1.4%, early Friday to 24,270.24, with McDonald's and Boeing as the worst-performing stocks.
The S&P 500 dipped 22.66 points to 2,655.01, with financials as the worst-performing sector.
The NASDAQ Composite ditched 58.84 points to 7,121.56
Trump made the announcement on Thursday, noting the U.S. will implement a 25% tariff on steel imports and a 10% tariff on aluminum imports next week. The news sent stocks reeling, with the Dow closing 420 points lower, while the S&P 500 and NASDAQ dropped more than 1%. It also raised concern that other countries may implement retaliatory tariffs on U.S. exports.
Shares of steel and aluminum users like General Motors lost 1.1%, and Boeing fell 3.3%. On Thursday, they fell 4% and 3.5%, respectively.
Meanwhile, U.S. Steel slipped 4%, and Century Aluminum fell 2.2%, after posting strong gains in the previous session.
In corporate news, Foot Locker shares dropped 9% after the company reported a bigger-than-expected decline in same-store sales for the previous quarter. Foot Locker's same-store sales fell 3.7%, while analysts expected a decrease of 2.5%.
Meanwhile, J.C. Penney's stock pulled back nearly 12% after reporting weaker-than-expected revenue and same-store sales.
Prices for the benchmark 10-year Treasury note moved lower, raising yields to 2.84% from Thursday’s 2.81%. Treasury prices and yields move in opposite directions.
Oil prices eased 47 cents a barrel to $60.52 U.S.
Gold prices gathered $18.30 at $1,323.50 U.S. an ounce.
