Canadian stock index futures pointed to a lower open on Friday on heightened tensions ahead of Ukraine's weekend referendum in Crimea.
The S&P/TSX composite index retreated 73.86 points to finish Thursday at 14,245.14.
The Canadian dollar slipped 0.11 cents at 90.23 cents U.S. early Friday
CIBC initiated coverage of Algonquin Power & Utilities with a sector perform rating, saying the company has been through a hyper growth phase in revenue, asset and EBITDA
CIBC raised the target price on Black Diamond Group to $33 from $32 after the company's fourth-quarter results beat estimates
CIBC then cut the target price on Cervus Equipment to $24 from $25, considering declining EBITDA margins in its fourth-quarter results and its expected flat sales of ag-equipment in 2014
The bank also cut the target price on Empire Company to $80 from $83 after the company reported third-quarter results below estimates, seeing a difficult 2014 for the retail industry
ON BAYSTREET
The TSX Venture Exchange plummeted 14.28 points Thursday to 1,032.11
ON WALLSTREET
Stocks could come under more pressure Friday as investors grow anxious about the crisis in Ukraine and the state of the Chinese economy.
Ahead of the opening bell, futures for the Dow Jones Industrials eked up seven points to 16,054. Futures for the S&P 500 slid 1.70 points to 1,838, and futures for the NASDAQ gained 4.5 points at 3,649.
Shares in Aeropostale plunged in pre-market trading after the retailer reported a bigger-than-expected loss and drop in revenue for the most recent quarter. It plans to close 52 stores this year.
But global markets, which often lead Wall Street, were in the red as U.S. and Russian officials met in London to try to find a diplomatic solution to an increasingly tense standoff over the fate of the Ukrainian region of Crimea.
Investors are bracing themselves for Sunday's referendum in Crimea, where voters will decide whether to break away from Ukraine and join Russia. Ukraine and the West have described the vote as illegal. They have accused Russia of violating Ukraine's sovereignty and are threatening sanctions.
European markets were all weaker in morning trading, while Asian markets ended with deep losses. The Nikkei 225 in Japan dropped by 3.3% and the benchmark index in Australia also tumbled by 1.5%.
Recent poor export figures from China and signs that the government may let more companies go to the wall have sparked worries about the pace of growth in the world's second biggest economy.
Oil prices picked up 39 cents to $98.59 U.S. a barrel
Gold prices inched up $1.20 to $1,373.60 U.S. an ounce.
