Equities in Toronto rose, led by materials shares as gold prices surged to one-month high on Friday, a day after the index posted its worst day since September 2016 on fears of a global trade war.
The S&P/TSX Composite Index stepped out of the rubble of Thursday’s sharp drop, and garnered 6.72 points to begin Friday at 15,406.65
The Canadian dollar rebounded 0.51 cents at 77.83 cents U.S.
Malaysia's Petronas said it is one of the producers involved in TransCanada's proposal to expand a pipeline system that would open up more markets for the energy company's gas produced in Western Canada.
TransCanada shares opened Friday down 19 cents to $52.69.
Boeing said it will not appeal against the U.S. trade commission ruling that allows Canada's Bombardier to sell its newest jets to U.S. airlines without heavy duties.
Bombardier shares were unchanged at $3.78
On the economic front, Statistics Canada reported that the cost of living rose 2.2% on a year-over-year basis in February, following a 1.7% increase in January.
On a seasonally-adjusted monthly basis, the Consumer Price Index was up 0.2% in February after increasing 0.5% in January.
Elsewhere, retail sales increased 0.3% in January to $49.9 billion. General merchandise stores were the largest contributors to the increase
ON BAYSTREET
The TSX Venture Exchange recouped 7.68 points to 824.76
All but two of the 12 TSX subgroups gained ground in the first hour of trade, as health-care stocks were haler by 2.2%. gold shone brighter 2%, and materials grew 1.1%.
The two laggards were financials, sifting off 0.2%, and consumer staples, inching back 0.1%.
ON WALLSTREET
U.S. stocks traded slightly higher on Friday as Wall Street mulled over China's response to U.S. tariffs on Chinese goods.
The Dow Jones Industrial Average gained 71.53 points to open Friday at 24,029.42, with Nike as the best-performing stock in the index.
The S&P 500 nicked higher 2.1 points to 2,645.79, with utilities outperforming.
The NASDAQ composite Index shed 22.59 points to 7,144.09
The major averages were still on track for sharp weekly losses, however.
Trump pressed ahead with long-promised anti-China charges on Thursday. The U.S. president signed an executive memorandum that will impose tariffs on up to $60 billion in Chinese imports.
In response, China's commerce ministry proposed a list of 128 U.S. products as potential retaliation targets, according to a statement on its website posted Friday morning. Beijing's ministry said it will take measures against the 128 U.S. goods in two stages if it cannot reach an agreement with Washington, adding that it could also take legal action under World Trade Organization rules.
Prices for the benchmark 10-year Treasury note were unchanged, keeping yields at Thursday’s 2.83%.
Oil prices sprouted 85 cents a barrel to $65.15 U.S.
Gold prices zoomed $21.60 to $1,349.00 U.S. an ounce.
