Stock futures pointed to a lower opening for Canada's main index as investors awaited producer and raw materials prices data and as oil fell slightly after their biggest gain in six years.
The S&P/TSX composite index skyrocketed 385.08 points, or 2.9% to close Thursday at 13,766.67
The Canadian dollar shed 0.55 cents to 75.22 cents U.S. early Friday
Brookfield Asset Management on Friday made its first significant investment in Indian infrastructure, buying six road and three power projects from India's Gammon Infrastructure Projects Limited.
Canada's First Quantum Minerals launched production at its $2.1-billion copper Sentinel mine which has been under construction since June 2012. The mine would produce 280,000 to 300,000 tonnes of copper per year at full production from one large low-grade ore body containing 0.5% copper.
RBC raised the target price on CIBC to $109.00 from $97.00 as the company is actively promoting a return of capital and raised its quarterly dividend for the fourth consecutive quarter to $1.12 per share and announced a share repurchase program for up to eight million shares.
RBC raised the target price on TD Bank to $61.00 from $55.00 as the company showed evidence of cost control as non-interest expenses came in better than our expectations this quarter.
Scotiabank reported third-quarter net income of $1.847 billion, compared with net income of $2.351 billion in the same period last year
In a week light on economic news, Statistics Canada reported this morning that its industrial product price index increased 0.7% in July, due mostly to higher vehicle prices, while its raw materials price index went south 5.9% during the same month, led by lower prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange added 15.87 points, or 3%, Thursday to 545.57
ON WALLSTREET
U.S. stock futures are signaling all three main indexes will open lower and European markets are weaker in morning trade.
Ahead of the opening bell, futures for the Dow Jones Industrials dropped 131 points, or 0.8%, to 16,519, futures for the S&P gave up 15.75 or 0.8%, to 1,973.50, and futures for the NASDAQ were upended 33 points, or 0.8%, to 4,295.
Shares in mining company Freeport McMoran jumped 12% pre-market after hedge fund manager Carl Icahn disclosed he had acquired a stake.
Facebook was slipping about 0.5% pre-market despite reporting late Thursday that more than one billion people logged on Monday -- the first time that milestone has been hit in a day.
Federal Reserve policymakers continue their annual meeting in Jackson Hole, Wyoming. The three-day affair is being closely watched for hints about when to expect an interest rate hike.
The Shanghai Composite had a truly wild ride this week, losing roughly 15% on Monday and Tuesday, before mounting a major rally in the second half of the week. Friday saw gains of nearly 5% on the main Chinese index, while the Shenzhen market put in a slightly stronger performance.
The Shanghai index still suffered a 7.8% decline for the week.
Elsewhere in Asia, new data showed Japan is still struggling to lift inflation to its target of 2%. Unemployment data improved, however, and the Nikkei ended the day with a 3% gain.
Oil prices faded 25 cents to $42.31 U.S. a barrel
Gold prices moved higher $2.10 to $1,124.70 U.S. an ounce.
