The Toronto stock market was slightly higher Friday while oil and gold prices fell back amid uncertainty over a Syrian military intervention.
The S&P/TSX composite index was in the green 20.96 points to greet noon at 12,725.69
The Canadian dollar down 0.16 cents at 94.75 cents U.S.
The TSX found early support from convenience store chain Alimentation Couche-Tard Inc. Shares ran up $2.96 or 5.2% to $60.32 as it increased its quarterly dividend by 1.25 cents to 8.75 cents per share as it reported a first-quarter profit of $255 million or $1.35 per share.
That was up from a profit of $102.9 million or 57 cents per share a year ago.
Among gold plays, Barrick Gold Corp. dipped 29 cents to $20.40.
The energy sector fell while the crisis in Syria started to subside
Syria is not a major oil producer but a widening conflict there could affect major producers in the region or disrupt supply routes.
The energy sector was off and Suncor Energy shed 22 cents to $35.88.
The base metals sector was slightly higher while December copper stepped back four cents to $3.22 U.S. a pound. First Quantum Minerals climbed 35 cents to $17.25.
Support also came from financials at the end of a generally positive week for bank earnings. All the major Canadian banks reported this past week and combined profits slipped to $7.63 billion in the third quarter, even though most of them reported stronger results for the period.
TD Bank gained 90 cents to $90.83.
Elsewhere in the sector, Laurentian Bank reports third-quarter net income fell six per cent to $28.3 million, or 91 cents per share. Revenue grew 14% to $221 million from $193.8 million and its shares slipped 48 cents to $44.47.
In other corporate news, Bombardier Aerospace said Friday it has received a flight test permit from Transport Canada for the first CSeries aircraft, clearing the way for the new jet's first flight. Its shares gained four cents to $4.78.
Economically speaking, Statistics Canada revealed this morning that Gross Domestic Product dipped 0.5% in June, while growing 0.4% on a quarterly basis, after a 0.5% hike in the first quarter.
ON BAYSTREET
The TSX Venture Exchange approached midday down 2.73 points to 938.71
Nine of the 14 Toronto subgroups were higher, with metals and mining stocks chugging ahead 1.5%, consumer staples improving 1%, and global base metals taking on 0.8%.
The four laggards were weighed mostly by telecoms and energy, each down 0.2%, and consumer discretionaries, down 0.02%. Industrials were flat by noon hour.
ON WALLSTREET
Investors are ready to say goodbye to August, which has been the cruelest month during an otherwise sunny 2013.
The Dow Jones Industrials retreated 35.77 points midday to 14,805.20
The S&P 500 index dropped 6.61 points to 1,631.56. The NASDAQ gave back 25.53 points to 3,594.78
The Dow and the S&P 500 are on track to lose between 3% and 4.5% this month. But they are still up between 13% and 15% for the year.
The NASDAQ held up better in August and is on track to only dip about 1%. The tech-heavy index has gained 20% year-to-date.
Markets on both sides of the border will be shuttered Monday for Labour Day
General Electric shares were the best performer on the Dow, rising more than 1% after The Wall Street Journal reported that the firm is preparing to spin off its retail lending business.
Salesforce.com shares shot up after the cloud-based software company reported better-than-expected quarterly sales and earnings Thursday afternoon.
Krispy Kreme shares were down 10% after the doughnut maker missed earnings estimates and lowered its full-year guidance Thursday.
Shares of energy producer Apache soared after it announced it was selling a 33% stake of its oil and gas holdings in Egypt to China's Sinopec for $3.1 billion U.S.
Prices for the 10-year U.S. Treasury gained back lost ground, lowering yields back to Thursday’s 2.75%. Treasury prices and yields move in opposite directions.
Oil prices lost 76 cents to $108.04 U.S. a barrel.
Gold prices dropped $10.80 to $1,402.10 U.S. an ounce.
