Stocks on this side of the border danced between below and above breakeven on Friday, led by the energy group as oil prices recovered some lost ground, while financial shares seesawed ahead of a speech by U.S. Federal Reserve Chair Janet Yellen.
The S&P/TSX Composite poked ahead 3.14 points to begin the week’s last session at 15,539.79
The Canadian dollar docked 0.08 cents at 74.6 cents U.S.
BlackBerry Ltd's head of corporate development and strategy left the technology company in mid-February, the company revealed on Thursday, leaving a leadership gap as it transitions to software from smartphone hardware.
The company once known as Research In Motion shed four cents to $9.19.
CIBC raised the target price on Canadian Western Bank to $32.00 from $31.00. The bank’s stocks improved 83 cents, or 2.7%, to $31.53.
National Bank Financial raised the target price on Cascades to $13.50 from $12.50. Cascades shares gave back 15 cents, or 1.1%, to $13.24.
National Bank Financial starts coverage on NewCastle Gold with an outperform rating and a $1.70 target price. NewCastle shares added two cents, or 2.8%, to 73 cents.
ON BAYSTREET
The TSX Venture Exchange dipped 1.26 points to 808.61
Eight of the 12 TSX subgroups were positive in the first hour, with health-care leading the way, up 1.1%, while energy and utilities each gained 0.7%.
The four laggards were weighed most by consumer discretionary stocks, down 0.2%, telecoms, off 0.1%, and real-estate, inching back 0.03%.
ON WALLSTREET
U.S. equities kicked off Friday trading mixed as investors awaited commentary from the top Federal Reserve official.
The Dow Jones Industrials decreased 6.11 points to 20.996.86, with Goldman Sachs the strongest of the gainers.
The S&P 500 lost 2.86 points to 2,379.06, with real estate lagging.
The NASDAQ doffed 2.65 points to 5,858.57
Fed Chair Janet Yellen is set to speak at the Executives Club of Chicago at 1 p.m. ET. Fed Vice Chairman Stanley Fischer is also scheduled to speak Friday.
Market expectations for a March rate hike are now totaling 75% following hawkish rhetoric and solid economic data.
Data scheduled for release Friday include the IHS Markit services Purchasing Managers Index for February and the Institute for Supply Management non-manufacturing index.
Prices for the benchmark 10-year Treasury note gained slightly, lowering yields to 2.5% from Thursday’s 2.49%. Treasury prices and yields move in opposite directions.
Oil prices regained 31 cents to $52.92 U.S. a barrel
Gold prices fell $5.10 to $1,227.80 U.S. an ounce.
