Equities in Toronto bounced back, as investors took good vibes from American employment figures, while comparable numbers here proved lukewarm.
The S&P/TSX Composite restored 117.76 points to open Friday at 14,252.22
The Canadian dollar slumped 0.17 cents to 76.74 cents U.S.
Average daily trading volumes on currency trading platforms run by Thomson Reuters jumped 14%in June to their highest since March 2015, helped by a surge in flows following Britain's shock vote to leave the European Union.
Thomson Reuters shares gained 72 cents, or 1.4%, to $53.20.
RBC cut the price target on Cogeco Communications to $69.00 from $77.00 based on a lower growth outlook and lack of re-rating catalysts.
Cogeco shares tumbled $1.88, or 3%, to $61.71.
CIBC raised the price on Sandvine Corp. to $3.50 from $3.25 as the company reported fiscal second quarter results that were 4% better than revenue and EBITDA Street estimates.
Sandvine shares gained 14 cents to $3.04.
On the economic slate, Statistics Canada reported that employment was unchanged in June. The agency also says the unemployment rate declined 0.1 percentage points to 6.8%, as the number of people searching for work edged down.
ON BAYSTREET
The TSX Venture Exchange eased 0.32 points to 747.47
All but one of the 13 subgroups were higher in the first hour, with metals and mining strengthening 2.1%, energy gushing 1.9%, and the consumer discretionary stocks taking on 1.4%.
The three laggards were gold, down 0.3%, materials, sliding 0.2%, and utilities, back 0.02%.
ON WALLSTREET
U.S. stocks traded higher Friday after a far better-than-expected headline figure on the June jobs report.
The Dow Jones Industrials recovered 174.16 points, or 1%, to 18,070.04, to trade above the psychologically key 18,000 level. Goldman Sachs and Home Depot contributed the most to gains.
The S&P 500 rocketed 21.75, or 1%, to 2,119.65, with financials leading eight sectors higher and telecoms and utilities the only decliners.
The NASDAQ Composite Index leaped 52.11 points, or 1.1%, to 4,928.91
In morning trade, the three major indexes recovered all their post-Brexit losses.
The non-farm payrolls report showed the U.S. created 287,000 jobs last month, versus the 175,000 jobs expected by economists. The unemployment rate edged higher to 4.9%, however, versus the 4.8% estimate.
May's payroll count was revised down to only an 11,000-job increase from the previously reported 38,000
Prices for the 10-year Treasury sagged, raising yields to 1.41% from Thursday’s 1.39%. Treasury prices and yields move in opposite directions.
Oil prices boosted 49 cents a barrel to $45.63 U.S.
Gold prices moved lower $6.90 to $1,355.20 U.S. an ounce.
Related Stories
