Canada's main stock index opened lower on Friday, in another broad rout that had the TSX touching its lowest since February 2014.
The S&P/TSX composite index found more room to fall, declining 103.54 points to begin the final session of a turbulent week at 13,633.46
The Canadian dollar inched up 0.02 cents at 76.44 cents U.S.
Eldorado Gold said on Thursday it would suspend all mining and development activities in the Halkidiki region in Greece after the Greek Energy Ministry on Wednesday revoked approvals for technical studies in the region.
Eldorado said its Greek arm, Hellas Gold SA, is taking legal action against the ministry's decision, including the filing of an injunction request before the Greek Supreme Court. Eldorado shares dipped 33 cents, or 6.3%, to $4.88.
CIBC raised the rating on Parkland Fuel to outperform, believing that at current levels, this offers an attractive entry for investors. Parkland shares peeked up 13 cents to $21.02.
Pivot Technology Solutions reports full-year earnings today, projecting one cent per share. Pivot shares were static at 55 cents.
On the economic front, Statistics Canada reported this morning that the consumer price index rose 1.3% in the 12 months to July, after increasing 1.0% in June.
The agency says lower energy prices continued to moderate the year-over-year rise in the CPI; however, the effect was less pronounced in July than in the previous month. In particular, the gasoline index was down 12.2% in the 12 months to July, compared with a 14.1% decrease in June.
Elsewhere, retail sales increased 0.6% to $43.2 billion in June. Sales were up in eight of 11 sub-sectors, representing 64% of retail trade.
ON BAYSTREET
The TSX Venture Exchange removed 1.69 points to 547.23.
All but two of the 14 TSX subgroups were lower to start the session, with health-care down 2.2%, consumer discretionaries sliding 1.4%, and financials poorer by 1.1%.
The two gainers were gold, up 0.9%, and energy, 0.5% more energetic.
ON WALLSTREET
U.S. stocks declined about 1% on Friday, extending a recent rout, as concerns about slowing global growth continued to pressure investor sentiment.
The Dow Jones industrial average plunged 129.05 points to 16,861.64, after Thursday’s header of 350 points plus, with Boeing leading decliners and Cisco the greatest advancer.
The S&P 500 dropped 20.39 points, or 1%, to 2,015.34, off about 2% for the year so far.
The NASDAQ index tumbled 57.97 points, or 1.2%, to 4,819.52,
On the earnings front, Deere and Foot Locker posted results before the market open.
Deere earned $1.53 U.S. per share for its third quarter, nine cents above estimates. However, revenue was below forecasts and Deere also lowered its forward guidance. The company said it is being impacted by a downturn in the farm economy and lower demand for construction equipment.
Foot Locker earned 84 cents U.S. per share for its second quarter, 15 cents above estimates. Revenue was above analysts' forecasts as well, and a same-store sales increase of 9.6% exceeded estimates of a 6% rise.
The U.S. flash manufacturing PMI came in at 52.9, slightly below expectations.
Prices for 10-year U.S. Treasuries hesitated a bit, raising yields to 2.08% from Thursday’s 2.07%. Treasury prices and yields move in opposite directions.
Oil prices sifted off a penny a barrel to $41.31 U.S.
Gold prices added $4.40 to $1,157.60 U.S. an ounce.
