Stocks tried to retrieve some dignity Friday morning, with Toronto indexes registering higher at the end of what’s been a brutal week.
The S&P/TSX composite index moved ahead 121.62 points to open Friday at 14,163.44
The Canadian dollar tailed off 0.48 cents to 83.13 cents U.S.
Canada has postponed a summit with the leaders of the United States and Mexico, officials said on Thursday, amid persistent tensions over the construction of TransCanada Corp's Keystone XL pipeline and other issues.
TransCanada shares gained 83 cents, or 1.6%, to $52.73.
National Bank raised the price target on Richmont Mines to $5.00 from $4.50, with an outperform rating. Richmont shares eked up 10 cents to $4.15.
CIBC cut the rating on Bombardier Inc. to sector perform from outperform. Bombardier shares dipped eight cents, or 2.6%, to $2.99.
ON BAYSTREET
The TSX Venture Exchange recovered 1.12 points to 660.36.
All but three of the 14 Toronto subgroups were higher, with energy rocketing 3.4%, metals and mining stronger by 3.2%, and gold shining 3.1% brighter.
The three laggards were financials, down 0.2%, consumer discretionary stocks, trailing 0.1%, and real-estate off 0.02%.
ON WALLSTREET
U.S. stocks fluctuated on Friday after a five-day losing streak, with energy leading gains as oil rose and after data had the cost of living falling by the most in half a dozen years and consumer sentiment came in better than expected.
The Dow Jones Industrials faded 63.35 points to 17,257.36, trading in a 79-point range on either side of neutral,
The S&P 500 slumped 0.63 points to 1,992.04, with energy leading gains and industrials pacing losses among its 10 major industry groups.
The NASDAQ index moved up 4.44 points to 4,575.26.
Intel edged higher in early New York trading after the company known as "Mr. Chips" reported quarterly results that initially drew a poor response from investors.
Goldman Sachs Group fell after the investment bank reported a 7% decline in quarterly profit.
The U.S. Labor Department reported the consumer-price index declined 0.4% in December following a 0.3% fall the month before.
Prices for 10-year U.S. Treasuries moved slightly ahead, lowering yields to 1.76% from Thursday’s 1.78%. Treasury prices and yields move in opposite directions.
Oil prices moved higher 98 cents per barrel to $47.23 U.S.
Gold prices added $3.80 an ounce to $1,268.60 U.S.
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