Stocks in Canada’s biggest market opened higher on Friday as higher oil prices boosted energy stocks, while a rise in gold prices lifted the materials sector.
The S&P/TSX Composite Index moved higher 17.73 points to open Friday at 16,344.52
The Canadian dollar recovered 0.25 cents to 76.63 cents
Enbridge said it would buy its U.S. master limited partnership Spectra Energy Partners for a sweetened $3.3-billion deal.
Enbridge ducked lower 86 cents, or 1.8%, to $46.26.
A Japanese transport ministry official said an Air Canada Boeing 777 made a safe emergency landing with no injuries at Tokyo's Haneda airport after reporting engine trouble.
Air Canada shares, meanwhile, gained 12 cents to $26.89.
BMO raised the price target on Canadian Imperial Bank of Commerce to $135.00 from $130.00. CIBC shares took on one penny to $122.41.
CIBC raised the rating on Baytex Energy to outperform from neutral. Baytex shares climbed 17 cents, or 4%, to $4.41.
RBC cut the target price on Just Energy Group to $5.00 from $6.00. Just Energy shares gained 41 cents, or 11.2%, to $4.08.
ON BAYSTREET
The TSX Venture Exchange strengthened 5.2 points to 705.01
Seven of the 12 subgroups were higher in the first hour, with health-care up 2.5%, while gold shone brighter 1.2%, and materials improved 0.9%.
The five laggards were weighed most by real-estate, down 0.4%, while utilities and consumer staples each faded 0.1%.
ON WALLSTREET
Stocks opened higher on Friday as investors cheered a week featuring strong corporate earnings and economic data. Investors also digested a speech from Federal Reserve Chairman Jerome Powell.
The Dow Jones Industrial Average gained 70.24 points to 25,727.22, as Chevron and Caterpillar outperformed.
The S&P 500 recouped 9.54 points to 2,866.39, lifted by gains in energy and tech.
The NASDAQ restocked 44.04 points to 7,922.50.
Retailers Lowe's and Target reported better-than-expected earnings this week, sending Lowe’s shares up 9.4% and Target up 4.4%, through Thursday's close.
The strong results from retailers helped put the major indexes on track for slight weekly gains as investors also shook off renewed legal worries surrounding Trump. The S&P 500 is up 0.2%, and NASDAQ ahead 0.8%, through Thursday's close. The Dow was flat for the week coming into Friday's session.
Meanwhile, weekly jobless claims in the U.S. fell to 210,000, near levels not seen since 1969. Core durable goods orders rose 1.4% in July, more than the expected 0.4% increase.
Prices for the benchmark for the 10-year U.S. Treasury slid, raising yields to 2.83% from Thursday’s 2.82%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.14 to $68.97 U.S. a barrel.
Gold prices recovered $13.50 to $1,207.50 U.S. an ounce.
