Employment figures that surprised to the upside sparked a jump in stock prices in Toronto early Friday.
The S&P/TSX composite index gained 77.82 points to open Friday at 14,641.20
The Canadian dollar took on 0.53 cents to 88.07 cents U.S.
TMX Group Ltd, the operator of Canada's biggest stock exchange, reported weaker-than-expected quarterly profit, hurt by lower trading revenue from its BOX options exchange and cash markets. TMX shares retreated 53 cents, or 1%, to $53.16.
Pipeline company Veresen is talking to Japanese buyers for offtake from its Jordan Cove liquefied natural gas facility in Oregon and expects to make a final investment decision for the project by the middle of next year. Veresen shares added 42 cents, or 2.4%, to $17.78.
IGM Financial Inc, one of Canada's top mutual fund companies, reported higher third-quarter earnings on Thursday that met expectations, and increased its quarterly dividend. IGM shares gained 82 cents to $46.39.
On the economic front, Statistics Canada reported this morning that jobs in Canada increased 43,000 in October, weighing the unemployment rate down 0.3 percentage points to 6.5%, the lowest rate since November 2008.
The agency was expected to report that the economy lost 5,000 jobs in October, pulling back from the surge in hiring seen in September, while the unemployment rate was forecast to hold steady at 6.8%.
ON BAYSTREET
The TSX Venture Exchange gained 1.92 points to 753.46.
Nine of the 14 Toronto subgroups gained ground in the first hour of trading, led by gold, up 3.8%, metals and mining, ahead 2.9%, and materials, surging 2.7%.
The five laggards were weighed by health-care, down 1.1%, consumer staples, off 0.3%, and telecoms, sliding 0.2%.
ON WALLSTREET
U.S. stocks crept lower on Friday, as modest post-payroll gains in the pre-market trade fizzled out.
The Dow Jones Industrials eased 44.83 points to 17,509.64
The S&P 500 dipped 3.40 points to 2,027.81. The NASDAQ index dropped 21.83 points to 4,638.47
The U.S. Bureau of Labor Statistics declared that the economy created 214,000 jobs last month, dropping the unemployment rate one-10th of a percentage point to 5.8%. Economists had projected that 233,000 jobs were created in October, and the jobless level would remain at 5.9%.
Walt Disney Co. fell after the company’s earnings fell slightly short of expectations, while revenue was a slight beat.
Zynga Inc. surged after its third-quarter earnings met Wall Street forecasts and sales came in slightly higher.
Sears Holdings Corp. soared after saying it may form a real estate investment trust involving 200 to 300 stores as it seeks to boost its balance sheet.
King Digital Entertainment PLC rose after the “Candy Crush” creator said third-quarter results topped expectations and announced a stock-buyback plan.
Humana Inc. shares fell after the health insurer posted a profit that fell short of forecasts.
Berkshire Hathaway Inc. reports after the close.
Prices for 10-year U.S. Treasuries gained, lowering yields to 2.34% from Thursday’s 2.38%. Treasury prices and yields move in opposite directions.
Oil prices gained 56 cents to $78.47 U.S. a barrel.
Gold prices moved higher $10.10 to $1,152.70 U.S. an ounce.
