Canada's main stock index dipped at open on Friday, weighed by losses in financial stocks.
The S&P/TSX Composite Index relinquished 19.1 points to begin Friday at 16,173.68
The Canadian dollar fell 0.11 cents to 76.96 cents U.S.
Airbus SE is set to close a deal to take a controlling stake in Bombardier Inc's CSeries jetliner program, effective July 1, in a move expected to kick-start the European plane maker's ability to put its marketing and cost-cutting muscle into the Canadian plane program.
Moreover, Desjardins raised the price target on Bombardier to $6.00 from $4.75.
Bombardier shares dropped four cents to $4.88
The Senate on Thursday voted to legalize recreational marijuana, clearing a major hurdle that puts the country on track to become the first Group of Seven nation to permit national use of the drug.
Cannabis concerns such as Canopy Growth nonetheless gave back some of their gains of recent days, falling $1.30, or 3.3%, to $37.98.
BP Plc complained to the National Energy Board regulator about Enbridge's implementation and then abrupt reversal of new rules for shipping crude on its Mainline pipeline system.
Enbridge shares retreated 19 cents to $40.44.
Barclays raised the target price on Canadian Western Bank to $38.00 from $37.00. CWB shares retreated 32 cents to $36.96.
In the economic docket, Statistics Canada reported employment was off 7,500 jobs in May, and the unemployment rate was 5.8% for the fourth consecutive month.
Meanwhile, Canada Mortgage and Housing Corporation reported that the trend in housing starts was 216,362 units in May, down from 225,481 units in April.
ON BAYSTREET
The TSX Venture gave back 1.9 points to 773.67
Eight of the 12 TSX subgroups were lower, with telecoms faltering 0.3%, while health-care and energy inching back 0.1% each
The four gainers were co-led by utilities and consumer staples, each ahead 0.3%, and gold, better by 0.2%.
ON WALLSTREET
Stocks opened lower on Friday, with tensions between the U.S. and key trade partners rising as the G-7 summit kicked off.
The Dow Jones Industrials dipped 8.37 points to 25,233.04, with Apple contributing the most to the decline.
The S&P 500 faded 1.84 points to 2,768.53, as telecommunications and technology lagged
The NASDAQ fell 14.48 points to 7,620.59, as Apple and chip stocks both dropped more than 1%.
On Friday, President Donald Trump is scheduled to appear at the meeting, along with other world leaders — including those who currently govern nations that Trump has inflicted tariffs upon. One aspect that's put investors on edge is a fresh tweet by Trump, who accused France and Canada of levying "massive tariffs" and establishing "non-monetary barriers."
This came after French President Emmanuel Macron told reporters that while the U.S. incumbent may not mind being isolated, the other leaders could sign a six-country agreement if need be.
In economic news, wholesale trade data was scheduled for release at 10 a.m. ET.
Prices for the benchmark for the 10-year U.S. Treasury hesitated, raising yields to 2.94% from Thursday’s 2.92%. Treasury prices and yields move in opposite directions.
Oil prices took on 10 cents at $66.05 U.S. a barrel.
Gold prices were unchanged at $1,303.00 U.S. an ounce.
