Canadian stocks opened slightly higher on Friday, even as the euro debt crisis dragged on, and as growing concern about the health of the global economy sapped investor confidence.
The S&P TSX Composite Index gained 29.77 points at the outset to 11,515.09
The Canadian dollar sidled back 0.12 cents to 95.40 U.S. cents.
Among stocks to watch this morning, a Canadian consortium aiming to buy TMX Group, the operator of the country's largest exchanges, said the $3.8-billion deal would likely win regulatory approval, its hopes boosted by a first day of hearings on Thursday.
Kinross Gold Corp. adjusted its forecast for depreciation, depletion and amortization in 2011 to about $600 million against previously stated forecast was $651 million.
Black Diamond Group Ltd. has agreed to purchase all the assets of Oilfield Rental assets, for $7.4 million cash.
ON BAYSTREET
The TSX Venture Exchange perked 0.42 points to 1,513.52, while the Nasdaq Canada index faded 1.31 points to 372.89.
Of the 14 Toronto subgroups, eight were negative to begin the day. Consumer staples trailed Thursday’s close by 0.4%, utilities by 0.3%, and financials by 0.2%.
The half-dozen gainers were led by health-care stocks, up 0.3%, while materials tacked on 0.2% and global base metals edged up 0.1%.
ON WALLSTREET
Stocks also opened higher Friday, even as euro-zone fears continued to weigh on investors.
The Dow Jones Industrials began Friday’s session up 52.26 points to 11,309.81.
The S&P 500 gained 7.14 points, to 1,168.53, while the Nasdaq Composite regained 11.57 points to 2,471.65. U.S. markets will close at 1 p.m. Friday due to the Thanksgiving holiday
Shares of AT&T fell about 1% in premarket trading. The telecom service provider said Thursday it was taking a $4 billion charge to cover the break-up fee it will owe, if its deal to acquire T-Mobile falls through. The FCC said earlier this week that it will oppose the merger, becoming the second regulatory body to do so.
On Thursday, German Chancellor Angela Merkel and French President Nicolas Sarkozy agreed to institute a plan to change the European Union's treaties in an effort to rebuild trust in the monetary union. But investors weren't assured by the news.
According to one expert, "the market's going to continue to press the will of the EU leaders until they come up with a solid solution."
The price on the benchmark 10-year U.S. Treasury was little changed, with the yield holding steady at 1.88% from late Wednesday
Oil for January delivery slipped 21 cents to $95.94 U.S. a barrel.
Gold futures for December delivery fell $15.60 to $1,680.30 U.S. an ounce.
