Markets in Toronto rose on Friday as the materials group advanced and after stronger-than-expected U.S. retail sales data.
The S&P/TSX Composite Index opened Friday up 27.88 points to 13,815.68
The Canadian dollar gave back 0.41 cents to 77.44 cents U.S.
Sirius XM Canada Holdings Inc said that Sirius XM Holdings Inc, its biggest shareholder, along with other shareholders would take the company private for about $351 million.
Sirius shares galloped 30 cents, or 7.1%, to $4.53.
CIBC raises target price on Alamos Gold to $9.50 from $8.00. Alamos inched up two cents to $8.68.
Canaccord Genuity raises the target price on Bird Construction to $13.00 from $11.00, with hold rating. Bird shares chucked a penny to $13.51.
Raymond James raises rating on Stantec to outperform from market perform. Stantec shares took on 79 cents, or 2.5%, to begin the session at $32.75.
ON BAYSTREET
The TSX Venture Exchange acquired 1.24 points to 674.83
Seven of the 13 TSX subgroups were negative in the first hour, with metals and mining flopping 1.5%, real-estate lower by 0.5%, and utilities off 0.2%.
The half-dozen gainers were led by gold, spiking 1.9%, materials, better by 0.9%, and health-care, up 0.6%.
ON WALLSTREET
U.S. stocks traded in a range Friday as investors eyed economic data, earnings and key technical levels.
The Dow Jones Industrials dropped 30.27 points to 17,690.23, as IBM and Apple were among those with the greatest positive impact on the Dow.
The S&P 500 fell 2.19 points to 2,061.92, with utilities leading eight sectors lower and tech and financials the only advancers.
The NASDAQ Composite recovered 6.67 points to 4,744.01. Shares of Apple briefly traded 1% higher after falling sharply Thursday to close at its lowest since June 2014.
In U.S. economic news, the producer price index rose 0.2% in April. Consumer sentiment and business inventories are due later in the morning.
April retail sales rose 1.3% topping expectations. Over the past 12 months, total retail sales rose 3%.
Prices for the 10-year Treasury gained, docking yields to 1.74% from Thursday’s 1.75%. Treasury prices and yields move in opposite directions.
Oil prices turned negative 40 cents a barrel to $46.30 U.S.
Gold prices regained $2.91 to $1,266.59U.S. an ounce.
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