Minus Readings for TSX

BlackBerry, Shopify in Focus

Canada's main stock index fell on Friday, pressured by losses in technology and industrial shares.

The S&P/TSX Composite Index faded 14.45 points to open Friday at 15,130.43

The Canadian dollar gained 0.19 cents at 76.11 U.S.

Technology stocks were hurt by a drop of $2.16, or 1.1%, in shares of Shopify Inc, to $195.71, while gains in industrials were kept in check by a fall of 32 cents, or 15.1%, to $1.78, in shares of Bombardier.

Quebec's securities regulator asked Bombardier to halt executive share sales plan after revealing an ongoing probe into stock transactions by company executives.

BlackBerry said on Friday it will acquire Cylance, an artificial intelligence and cybersecurity company, for $1.4 billion in cash to help expand its QNX unit that makes software for next-generation autonomous cars. BlackBerry picked up 21 cents, or 1.8%, to $11.86.

Top percentage gainers on the TSX were shares of gold miners, Eldorado Gold, which rose two cents, or 2.5%, to 83 cents, and Iamgold, which rose 15 cents, or 3.7%, to $4.21.

Barclays cut the target price on Bank of Montreal to $105.00 from $110.00. BMO shares lost 56 cents to $98.82.

Barclays cut the target price on Canadian Imperial Bank of Commerce to $130 from $137. CIBC shares dived 51 cents to $114.20.

Barclays cuts the target price on National Bank of Canada to $65.00 from $69.00. National shares gave back four cents to $60.84.

Credit Suisse raised the rating on Pembina Pipeline to outperform from neutral. Pembina hiked 55 cents, or 1.2%, to $44.85.

U.S. Trade Representative Robert Lighthizer on Thursday denied a report that he had told some industry executives that another round of tariffs on Chinese imports had been put on hold as the two nations pursue talks.

On the economic front, Statistics Canada reported that foreign investment in Canadian securities totaled $7.7 billion in September, mainly acquisitions of money market instruments.

At the same time, Canadian investment in foreign securities resumed to reach $10.6 billion, led by purchases of non-U.S. instruments.

Moreover, the agency said, manufacturing sales edged up 0.2% in September to $58.5 billion, following a 0.5% decrease in August.
Sales increased in eight of 21 industries, led by higher sales in the transportation equipment industry.

ON BAYSTREET

The TSX Venture Exchange gained 2.72 points, to 627.06

Eight of the 12 subgroups were higher, with gold up 1.2%, materials stronger 1%, and health-care better by 0.6%.

The four laggards were financials, down 0.5%, industrials, fell 0.4%, and real-estate, lower 0.3%

ON WALLSTREET

The NASDAQ Composite dipped on Friday amid a sharp drop in Nvidia shares, capping off what has been a bad week for tech stocks.

The Dow Jones Industrial Average gained 97.05 points to 25,386.32

The S&P 500 enhanced 5.15 points to 2,735.35

The NASDAQ docked 6.53 points to 7,252.50

The S&P 500 and Dow Jones Industrial Average were also on pace for sharp weekly losses.

Shares of Nvidia plunged 17% after the company reported weaker-than-expected revenue for the previous quarter, while its guidance also disappointed investors. Advanced Micro Devices sagged 4% and Micron Technology also 2.7%.

Tech-related shares like Amazon sank 6.4%, and Netflix was down 5.4%.

Tech's decline has put the NASDAQ on pace for a 2.1% loss this week.

Prices for the benchmark for the 10-year U.S. Treasury gained, lowering yields to 3.09% from Thursday’s 3.11%. Treasury prices and yields move in opposite directions.

Oil prices rose $1.34 to $57.80 U.S. a barrel.

Gold prices moved ahead $7.20 at $1,222.20 U.S. an ounce.