Canada's main stock index opened higher on Friday, buoyed by strength in the energy and health-care sectors.
The S&P/TSX Composite Index picked up 36.30 points to open Friday at 12,859.92
The Canadian dollar fell 0.60 cents to 99.17 cents U.S., after months of looking down at its American counterpart.
Finance Minister Jim Flaherty expects to choose the country's next central bank governor in April and said on Friday he was looking worldwide for the right candidate, who must hold a Canadian passport. This, after current Governor Mark Carney announced he’d take the helm of the Bank of England this spring.
Among stocks to watch today, Enbridge Inc. CEO Al Monaco said Thursday the company has started to sketch out plans for moving Canadian crude oil to a U.S. refining market it has so far had little access to - the eastern Gulf Coast region of Louisiana and Mississippi. Enbridge shares began the session up 26 cents to $44.25.
Business software maker Open Text Corp. reported a 29% growth in quarterly profit on revenue from cloud-based services. Open Text stock faded $1.95, or 3.3%, to $57.93.
In the health-care sector, Valeant Pharmaceuticals spiked 1.1% in the session’s first hour to $65.49.
On the economic slate, the cost of living showed a consistent rise last month. Figures released by Statistics Canada this morning showed the consumer price index hiked 0.8% in December, matching November’s increase.
ON BAYSTREET
The TSX Venture Exchange eked higher by 0.15 points to 1,229.61
All but three of the 14 Toronto subgroups began in the day in the green. Energy stocks were 0.7% more energetic, while health-care and financials were each 0.4% better.
The three losing groups were gold, down 0.7%, materials, off 0.3%, and the metals and mining, sliding 0.02%.
ON WALLSTREET
U.S. stocks opened higher Friday as investors welcomed better-than-expected corporate results ahead of fresh data on home sales.
The Dow Jones Industrial Average progressed 33.13 points, to begin a short week’s last session at 13,858.50
The S&P 500 gained 5.46 points to 1,500.28. The tech-heavy NASDAQ Composite regained 19 to 3,149.39
Procter & Gamble shares rose 3.6%, leading the gains on the Dow. The company, which makes a variety of household goods, topped earnings expectations and raised its outlook for earnings and share repurchases in 2013.
AT&T was also a big winner on the blue-chip index. The wireless carrier's shares rose more than 1% after it excelled on sales but missed on earnings.
Halliburton shares jumped 6%, making it among the best performers in the S&P 500. The company reported earnings that beat analysts' expectations, driven by strength in the company's international divisions.
A 4.4% increase in Starbucks shares also boosted the broader market. The company reported earnings late Thursday that were in line with analysts' estimates.
On the downside, shares of Hasbro were under pressure after the company said it expects full year earnings to come in below analysts' expectations, citing the "challenging growth prospects" in the toy industry.
Of the 142 of S&P 500 companies that had reported results as of Thursday evening, 66% have exceeded analysts' expectations.
Investors will also get another look at the strength of the housing recovery on Friday, with the Census Bureau set to release data on new home sales for December at 10 a.m. ET.
Prices on the 10-year U.S. Treasury caved raising yields to 1.92% from Thursday’s 1.84%. Treasury prices and yields move in opposite directions.
Oil prices notched 32 cents to $96.27 U.S. a barrel.
Gold prices fell back $11.80 to $1,658.10 U.S. an ounce.
