Equity futures in Canada’s biggest market were higher on Friday as oil prices rose on fresh hopes that exporters would agree to freeze their output amid a global glut at a meeting in Doha later this month.
The S&P/TSX Composite Index dropped 81.02 points to close Thursday at 13,266.44. June futures hiked 0.5%.
The Canadian dollar hiked 0.42 cents to 76.48 cents U.S. early Friday.
TransCanada Corp said on Thursday about 400 barrels could have spilled in South Dakota from its 590,000 barrel-per-day Keystone crude oil pipeline.
Fairfax India Holdings Corp, part of Canadian billionaire Prem Watsa's Fairfax Holdings, said it would invest $300 million in privately held Indian petrochemical company Sanmar Chemicals Group through a combination of equity and fixed-income securities.
Barclays raised the target price on Great-West Lifeco to $36.00 from $35.00
Barclays raised the target price on Cenovus Energy to $18.00 from $17.00
Barclays also raised the target price on Husky Energy to $21.00 from $17.00
Barclays cut the target price on Manulife Financial to $21.00 from $22.00
Moreover, Barclays raised the target price on Sun Life Financial to $45.00 from $44.00
Barclays raised the target price on Suncor Energy to $43.00 from $40.00
NBF cut the target price on First Quantum Minerals to $9.50 from $11.00
Barclays raised the target price on Imperial Oil to $45.00 from $43.00
National Bank Financial cut the target price on Lundin Mining to $4.75 from $5.25
Nomura raised the target price on Teck Resources to $8.50 from $6.00
CIBC cut the target price on Air Canada to $12.00 from $15.00
On the economic front, Statistics Canada reported the economy created 41,000 jobs during March, bringing the unemployment rate up 0.2 percentage points to 7.1%. This follows three months of stagnant numbers.
With the gains in March, the agency adds, employment grew by 33,000, or 0.2% in the first quarter, the fourth-consecutive quarter with 0.2% employment growth.
Elsewhere, Canada Mortgage and Housing Corporation reported that housing starts fell in March to 204,251 units, from an upwardly revised 219,077 units in February. Forecasters had expected 190,000 starts.
ON BAYSTREET
The TSX Venture Exchange popped 10.05 points Thursday to 597.43
ON WALLSTREET
U.S. stock futures are bouncing higher Friday.
Ahead of the opening bell, futures for the Dow Jones Industrials flew 84 points, or 0.5%, to 17,542, while futures for the S&P 500 hiked 11.5 points, or 0.6%, to 2,046.5. NASDAQ futures gained 26.25 points, or 0.6%, to 4,496.5.
Ailing tech giant Yahoo continues to be "one to watch" following a Bloomberg report that Verizon and Google are considering bids for the company.
European markets are rising in early trading. Asian markets ended the week with mixed results.
Traders are watching the Japanese yen as it gives back some the gains made in recent months.
The yen has strengthened by 10% against the U.S. dollar this year, and is up 9% versus the euro over the same period. The currency's continued strength could prompt the country's central bank to increase its stimulus program.
Oil prices pumped up $1.43 to $38.71 U.S. a barrel
Gold prices sank $5.33 to $1,235.12 U.S. an ounce.
