Canada's main stock index opened lower on Friday, as last-ditch talk efforts between Greece and its creditors dominated investor focus, while lower crude prices weighed on energy stocks.
The S&P/TSX composite index docked 50.60 points to begin Friday at 14,846.90
The Canadian dollar retreated 0.28 cents to 80.86 cents U.S.
Shares in German potash miner K+S leaped almost 40% on Friday after a takeover proposal from Canada's Potash Corp which sources close to the matter said was worth more than seven billion euros.
Potash shares climbed 29 cents to $39.62.
Fairfax India Holdings, a fund set up by Canadian investor Prem Watsa to target Indian assets, is set to take a majority stake in logistics firm National Collateral Management Services.
The parent Fairfax Holdings gained one penny to $647.00
Mexican conglomerate Alfa said on Thursday the offer it and Harbour Energy have made to buy oil company Pacific Rubiales is "full, fair and final."
Rubiales stock dipped eight cents to $5.25.
CIBC raised the target on Continental Gold to $5.25 from $5. Continental shares surrendered two cents to $2.98.
Barclays raised the target price on Empire Co to $95.00 from $91.00. Empire shares gained three cents to $90.83.
Canaccord Genuity raised the target price on Manulife Financial to $27.00 from $26.00. Manulife shares doffed three cents to $23.92.
Demands for tax increases and pension cuts that Greece's creditors are setting as conditions for the disbursement of aid are putting the country in an impossible position, its finance minister said.
ON BAYSTREET
The TSX Venture Exchange moved higher 0.41 points to 680.
All but two of the 14 TSX subgroups were lower, with energy, health-care and utilities each tumbling 0.7%
The two gaining groups were consumer discretionary, picking up 0.2%, and industrials, nosing up 0.04%.
ON WALLSTREET
U.S. stocks traded mostly higher on Friday as investors attempted to find optimism on the latest Greece headlines.
The Dow Jones Industrials triumphed 100.5 points, to 17,990.86, led by a more than 4% gain in Nike on a strong earnings report after the close Thursday.
The S&P 500 index inched higher 1.6 points to 2,103.91, with financials leading six sectors higher and utilities the greatest decliner.
The NASDAQ slipped 5.78 points to 5,106.41
Canadian drug maker Valeant is interested in buying animal health company Zoetis, according to a Wall Street Journal report.
Nike reported quarter profit of 98 cents U.S. per share, beating estimates by 15 cents, with revenue also above estimates. The athletic shoe and apparel maker was able to register higher prices and increased profit margins, among other positive factors.
Micron Technology missed estimates by two cents with adjusted quarterly profit of 54 cents U.S. per share, with revenue also slightly below forecasts. Micron also gave a downbeat forecast for the current quarter, amid a continuing decline in computer chip prices.
In the United States, the only economic data out was the University of Michigan Consumer Sentiment, which posted a final read of 96.1 for June.
Prices for 10-year U.S. Treasuries faded, boosting yields to 2.45% from Thursday’s 2.40%. Treasury prices and yields move in opposite directions.
Oil prices fell 69 cents a barrel to $59.01 U.S.
Gold prices dipped $1.90 at $1,169.90 U.S. an ounce.
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