Canadian equities inched higher on Friday as a jump in commodity prices lifted mining stocks, although gains on the main index were capped by a dismal U.S. jobs report that sparked fears of slowing global growth.
The TSX Composite gained 105.54 points to conclude Thursday at 20,795.12
The Canadian dollar hiked 0.43 cents to 79.66 cents U.S.
Enbridge said its LaRose compressor station in southern Louisiana suffered damage as a result of Hurricane Ida and that it was still working to access its facilities in Venice, Louisiana.
Enbridge shares nosed up six cents to $50.02.
Jefferies raised the rating on Aurora Cannabis to hold. Aurora shares jumped 25 cents, or 2.7%, to $9.57.
CIBC raised the rating on BRP to outperform from neutral. BRP shares spiked $5.66, or 4.8%, to $123.83.
RBC raises the rating on Cameco Corp. to sector perform from underperform. Shares in Cameco hiked 65 cents, or 2.5%, to $26.66.
ON BAYSTREET
The TSX Venture Exchange leaped 6.57 points, to 914.27
Seven of the 12 TSX subgroups spent the first trading hour in the red, weighed most by staples, down 0.7%, while communications and financials each dished off 0.3%.
The five gainers were co-led by gold and materials, each up 1.1%, and health-care, 0.6% to the good.
ON WALLSTREET
Stocks fell slightly on Friday morning after the August jobs report came in short of expectations, showing the impact of the delta-fueled COVID resurgence.
The Dow Jones Industrials shook off 70.46 points to start Friday at 35,373.36
The S&P 500 lost 2.99 points to 4,533.96
The NASDAQ Composite improved upon Thursday’s record close by 23.45 points, to 15,354.63.
Semiconductor stock Broadcom was one of the best performing stocks in early trading, rising 15% after the company’s fiscal third quarter earnings came in above expectations. Home builder stocks including Lennar and PulteGroup were under pressure, and American Express was the worst performing stock in the Dow.
Non-farm payrolls increased by 235,000 in August, the U.S. Labor Department said Friday. Economists surveyed by Down Jones were expecting 720,000 jobs. The report marks a significant slowdown from July’s revised number of 1.053 million and comes as the delta variant of COVID-19 has led to health restrictions being put back in place in some states and cities.
Prices for 10-Year Treasurys sagged, raising yields to 1.33% from Thursday’s 1.29%. Treasury prices and yields move in opposite directions.
Oil prices lost nine cents to $69.90 U.S. a barrel.
Gold prices took on $14.50 to $1,826 U.S. an ounce.
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