Equity markets in Toronto opened slightly lower on the last trading day of the week as investors digested the country's inflation data
The S&P/TSX composite index dipped 7.37 points to commence business on Friday at 15,104.85.
The Canadian dollar climbed 0.46 cents at 92.89 cents U.S.
African Barrick Gold Plc, the Tanzania-focused subsidiary of Barrick Gold Corp, on Thursday dismissed accusations of illegal payments made to Tanzanian officials, where it operates the North Mara mine. Barrick shares gave back 11 cents to $19.39.
CIBC, Nomura, Raymond James raised the target price on BlackBerry, whose shares dropped two cents to $9.82.
National Bank Financial upped the target on Boyd Group Income Fund to $50 from $44. Boyd units acquired 18 cents each to $44.20.
On the economic front, Statistics Canada reported that consumer prices rose 2.3% in the 12 months to May, following a 2.0% increase in April. On a seasonally-adjusted monthly basis, the Consumer Price Index increased 0.2% in May, after rising 0.3% in April.
What’s more, retail sales increased for the fourth consecutive month in April, advancing 1.1% to $41.6 billion. Gains were widespread as 10 of 11 subsectors, representing 98% of retail trade, posted increases.
Moreover, the ratio of Canadian household debt to income edged down further in the first quarter from the record high it hit last year, buttressing policymakers' expectations that a soft landing is in store for the housing market and family indebtedness.
ON BAYSTREET
The TSX Venture Exchange sidled back 0.80 points to 1,021.26
Nine of the 14 Toronto subgroups were lower at the outset, with gold down 0.9%, global base metals trimming 0.7%, and materials sliding 0.5%.
The five gainers were co-led by energy and health-care, each up 0.3%, and financials, inching up 0.1%.
ON WALLSTREET
Stocks were mixed in Friday’s first hour, in the absence of obvious market catalysts.
The Dow Jones Industrials pointed higher 35.03 points to 16,956.49
The S&P 500 gathered 2.67 points to 1,962.15, but the NASDAQ composite fell 0.64 points to 4,358.69
Ireland-based Shire has rejected an unsolicited bid worth about $46 billion U.S. from AbbVie, saying it undervalued the company and carried significant risks because AbbVie is looking to move its tax base to the U.K. Shire shares gained 11%.
Siemens and Mitsubishi Heavy Industries have raised their joint offer for Alstom's energy business, a day after General Electric sweetened its own bid. France's Alstom has until Monday to choose.
Shares in Oracle fell by more than 6% in pre-market trading after the company's fourth quarter earnings missed analysts' expectations. GM slipped, albeit barely.
CarMax and Darden Restaurants, which owns brands including Olive Garden and Longhorn Steakhouse, will report quarterly earnings before the opening bell.
Prices for 10-year U.S. Treasuries sagged, raising yields to 2.64% from Thursday’s 2.62%. Treasury prices and yields move in opposite directions
Oil prices climbed 46 cents to $106.51 U.S. a barrel.
Gold prices took on 60 cents at $1,314.70 U.S. an ounce.
