Canada's main stock index looked set to open lower on concerns surrounding falling oil prices which are set for a third straight weekly drop, the longest losing streak in four months
The S&P/TSX composite index jettisoned 156.15 points, or 1.2%, to finish Thursday’s session at 13,009.93
The Canadian dollar dropped 0.05 cents to 71.7 cents U.S. early Friday
BlackBerry reported a fiscal third-quarter loss as widely anticipated, but posted its first quarter-to-quarter revenue gain in over two years, indicating that turnaround efforts may be gaining traction. In the quarter the company reported a loss of $89 million, or 17 cents a share. That compared with a year ago loss of $148 million, or 28 cents a share.
Bank of Nova Scotia is considering selling its 49% stake in Thanachart Bank Pcl, Thailand's number-two car loan provider, after struggling to make an Asian retail presence work, a source familiar with the plan said. Majority owner Thanachart Capital Pcl said it would cooperate with the Canadian lender if it decided to sell its stake in Thailand's sixth-largest bank, which had a carrying value of $1.7 billion on Bank of Nova Scotia's books.
Canadian Pacific Railway said its $27-billion bid for Norfolk Southern Corp risks coming unstuck due to regulatory scrutiny of its impact on the U.S. rail market, in particular the possibility it could spark competition-crushing rival deals, according to former regulators and analysts.
RBC cut the target price on Secure Energy Services to $12.00 from $14.00, expecting the activity levels in the sector to continue to slide lower through the end of second-quarter of 2016.
On the economic front, Statistics Canada was to report the consumer price index rose 1.4% in the 12 months to November, after increasing 1.0% in October. On a seasonally-adjusted monthly basis, inflation moved up 0.2% in November, matching the increase in October.
Also, the agency reported that wholesale sales declined 0.6% to $54.7 billion in October, a fourth consecutive decrease.
ON BAYSTREET
The TSX Venture Exchange let go of 1.26 points Thursday to 496.95
ON WALLSTREET
U.S. stock futures are sinking and nearly all European markets are in the red in early trading.
Ahead of the opening bell, futures for the Dow Jones dipped 30 points, or 0.2%, to 17,326, futures for the S&P 500 fell 3.5 points, or 0.2%, to 2,021.25. NASDAQ futures gained four cents, or 0.1%, to 4,573.50
Blackberry, CarMax, Carnival and Olive Garden owner Darden Restaurants are set to release quarterly results before the open.
Asia closed the day and the week with losses. Japan's Nikkei posted the largest drop, down 1.9% after enduring significant volatility.
Shares in the Chinese internet security company Qihoo 360 Technology are set to jump at the open after the company announced a group of investors are taking it private for $9.3 billion U.S. in cash. The announcement had been expected for months.
Shares in software company Red Hat are rallying by about 5% pre-market after the company beat earnings expectations.
Oil prices slid 27 cents to $34.68 U.S. a barrel
Gold prices gained $5.95 to $1,057.05 U.S. an ounce.
