Stock futures pointed to a lower opening for Canada's main stock index as investors keenly await jobs data
The S&P/TSX composite index collapsed 135.29 points to close Thursday at 15,019.39
The Canadian dollar was unchanged at 79.99 cents U.S. early Friday.
Cenovus Energy Inc. has agreed to buy the Bruderheim, Alberta, crude-by-rail terminal from Canexus Corp for $75 million in cash, the two companies said on Thursday. The 70,000 barrel-per-day Bruderheim facility was western Canada's first unit train terminal, capable of loading more than 100 tank cars of crude in one go at a cheaper rate than mixed cargo manifest trains.
DavidsTea Inc.s initial public offering has been priced at $19 per share, a market source told Reuters, valuing the Canadian loose-leaf tea retailer at about $440 million. The company's initial public offering of 5.1 million shares raised about $96.9 million at that price, which was above the already raised price range of $17.00-$18.00.
CIBC cut the target price on Saputo Inc. to $33.00 from $35.00 saying that lower dairy prices and increased competition is taking a greater-than-expected toll on the company.
Economically speaking, Statistics Canada reported that the economy added 59,000 jobs in May, leaving the unemployment rate unchanged at 6.8% for the fourth consecutive month.
ON BAYSTREET
The TSX Venture Exchange surrendered 7.32 points Thursday to 684.13.
ON WALLSTREET
U.S. stock futures are edging down, with many European markets also in the red.
Ahead of the opening bell, futures for the Dow Jones Industrials dipped 30 points, or 0.2%, to 17,895, futures for the S&P 500 slipped 3.75 points, or 0.2%, to 2,095.25, and futures for the NASDAQ fell 7.5 points, or 0.2%, to 4,489.
The U.S. Bureau of Labor Statistics will publish its monthly jobs report Friday this morning. Economists expect it to show that the economy created 222,000 jobs in May, slightly fewer than the 223,000 jobs the government said were added in April.
Vodafone and Liberty merger speculation is back on the agenda as the two firms confirmed they are in early asset swap talks. However, both companies said Friday they were not considering a full-on merger. Vodafone shares were down 1.9% in London.
Greek markets are trading sharply lower after Athens postponed a debt payment to the International Monetary Fund late Thursday.
OPEC is leaving oil production levels unchanged -- despite the fact that prices are down 40% from a year ago. The Saudi-led cartel is fighting to keep its market share and drive U.S. shale oil producers out of business.
Oil prices gained 26 cents to $58.26 U.S. a barrel
Gold prices dropped $1.40 at $1,173.80 U.S. an ounce.
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