Canadian equities fell Friday after Statistics Canada reported that employment fell in July.
The S&P/TSX Composite index remained negative 9.51 points to greet noon hour at 11,848.62
The Canadian dollar moved lower 0.08 cents to 100.83 cents U.S.
The healthcare sector was among the bigger losers, but information technology shares climbed. Shares of CML Healthcare Inc.fell 2.1% while Research In Motion Ltd. climbed 6%.
Elsewhere, Osisko Mining Corp. reported a second-quarter profit on higher production at its flagship mine. Shares flopped 2% to $9.68.
Business software company Open Text Corp. reported a quarterly adjusted profit that narrowly beat analysts' estimates, and said it was "cautiously optimistic" on Europe. Open Text shares soared 9.8% to $53.88.
Energy services concern ShawCor Ltd. reported a 36% jump in quarterly profit on higher bookings and strong performance in its pipeline and pipe services segment. Shares eased 2.1% to $35.04
On the economic ledger, Statistics Canada reported this morning that employment in July declined by 30,000, the result of losses in part-time work. The unemployment rate rose 0.1 percentage points to 7.3%.
ON BAYSTREET
The TSX Venture Exchange inched up 0.69 points to 1,193.74. The Nasdaq Canada index added 2.05 points to 352.69.
In all, 10 of the 14 Toronto subgroups gained ground during the morning, led by information technology, skyrocketing 3.5%, consumer discretionaries, up 0.8%, and gold, ahead 0.5%.
The four laggards were weighed mostly by health-care stocks, giving back 2.7%, energy, down 0.9%, and financials, off 0.2%.
ON WALLSTREET
U.S. stocks were under pressure Friday after disappointing economic data from China and the U.S. heightened fears about a global slowdown.
The Dow Jones industrial average broke for lunch down 20.32 points to 13,144.87
The S&P 500 slid 2.49 points to 1,400.31. The Nasdaq subtracted 2.49 points to 3,010.52
All three major indexes are on track to end the week with modest gains. The Dow and S&P 500 are up more than 0.5%, while the Nasdaq is on pace for a 1.7% increase.
Shares of J.C. Penney rallied Friday despite the department store chain posting a second-quarter loss of $147 million U.S., or 67 cents per share. Analysts were expecting a loss of just 25 cents U.S. per share. J.C. Penney also withdrew its guidance for the year.
Yahoo's stock was sharply lower after the Web portal company -- in a filing with the Securities and Exchange Commission -- said new CEO Marissa Mayer is reviewing business strategy.
The review could lead to changes in the restructuring plan the company has already started to implement, as well as the previously announced plan to return to shareholder the cash it generated from a deal to sell its stake in the Chinese internet company Alibaba.
British soccer team Manchester United began trading on the New York Stock Exchange Friday. The team priced shares of its initial public offering at $14 U.S. Thursday night, below its targeted range. Shares were up slightly in early trading.
Chinese exports, which had been gaining strength for the past few months, rose just 1% from a year earlier in July, which was well below expectations and down from the 11.3% pace of increase in June. The 4.7% uptick in Chinese imports also fell short of forecasts.
Economically speaking, export prices fell 0.3% in July, while import prices declined 0.4%, according to a report from the U.S. Bureau of Labor Statistics. Import prices have been declining since April, and export prices have been falling since May.
A 2 p.m. ET, the Treasury budget report will give a snapshot of the nation's finances. Economists surveyed by Briefing.com expect it to show a deficit of $71 billion U.S. in July, higher than the $60-billion U.S. deficit in June.
The price on the benchmark 10-year U.S. Treasury moved up, pushing the yield down to 1.66% from 1.69% late Thursday. Treasury prices and yields move in opposite directions.
Oil for September delivery fell back 45 cents to $92.91 U.S. a barrel.
Gold futures for December delivery rose $7.80 to $1,628 U.S. an ounce.
