Stock futures pointed to a lower opening for equity markets in Toronto as oil prices fell again on growing fears of a China-led slowdown in global growth, and as investors remain cautious ahead of domestic inflation data.
The S&P/TSX composite index plummeted 299.63 points, or 2.1%, to end Thursday at 13,737
The Canadian dollar eased 0.10 cents to 76.31 cents U.S. early Friday
Eldorado Gold said on Thursday it would suspend all mining and development activities in the Halkidiki region in Greece after the Greek Energy Ministry on Wednesday revoked approvals for technical studies in the region.
Eldorado said its Greek arm, Hellas Gold SA, is taking legal action against the ministry's decision, including the filing of an injunction request before the Greek Supreme Court.
CIBC raised the rating on Parkland Fuel to outperform, believing that at current levels, this offers an attractive entry for investors
Pivot Technology Solutions reports full-year earnings today, projecting one cent per share.
On the economic front, Statistics Canada reported this morning that the consumer price index rose 1.3% in the 12 months to July, after increasing 1.0% in June.
The agency says lower energy prices continued to moderate the year-over-year rise in the CPI; however, the effect was less pronounced in July than in the previous month. In particular, the gasoline index was down 12.2% in the 12 months to July, compared with a 14.1% decrease in June.
Elsewhere, retail sales increased 0.6% to $43.2 billion in June. Sales were up in eight of 11 sub-sectors, representing 64% of retail trade.
ON BAYSTREET
The TSX Venture dwindled 8.34 points Thursday to 549.83.
ON WALLSTREET
Global markets are hitting fresh lows and U.S. stock futures are edging lower.
Ahead of the opening bell, futures for the Dow Jones Industrials dropped 104 points, or 0.6%, to 16,813, futures for the S&P fell 8.5 points, or 0.4%, to 2,017, and futures for the NASDAQ slid 28.25 points, or 0.7%, to 4,338.
Discount retailer Ross saw shares sink more than 9% after the company warned it has a "cautious" outlook for the remainder of the year.
Intuit stock also dipped 3% in after-hours trading. Mondelez International shed 2.3% after the closing bell.
John Deere and Foot Locker are among a small group of companies expected to report earnings before the market opens.
U.S. manufacturing data are expected later on Friday.
European markets are all down in early trading, but sentiment was helped by data showing the euro-zone economy remains on track for solid growth this quarter.
The FTSE 100 dropped 0.5%, having slipped into correction territory Thursday. Germany's DAX was down 0.9%.
Asian markets ended the session down, with the Hang Seng sliding into a bear market. Hong Kong's benchmark index has lost 20% since its April peak.
The Shanghai Composite plunged 4.3% Friday, ending the week down 11%.
China manufacturing data came out worse than expected, hitting its lowest level in more than six years. The slowdown in China's factory activity is adding to concerns about the strength of global economic growth.
Oil prices faded 35 cents to $40.97 U.S. a barrel
Gold prices inched up 10 cents to $1,153.30 U.S. an ounce.
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