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S&P/TSX Composite Index

16,326.70 real time data change up
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Change: 27.82 (0.17%)

S&P/TSX Venture Composite Index

884.96 real time data change down
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Change: -3.31 (-0.37%)
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9:28 AM EST, December 08, 2017
Higher Opening Foreseen Friday

Futures pointed to a higher opening for equity markets in Canada on Friday following the release of Canadian housing data and as oil prices edged up on rising Chinese demand.

The S&P/TSX Composite Index leaped 106.90 points to close Thursday at 16,015.68

The Canadian dollar inched forward 0.12 cents to 77.9 cents U.S. Friday morning.

December futures climbed 0.25% Friday.

Canada's energy regulator ruled on Thursday in favor of Kinder Morgan Canada's appeal to sidestep some municipal permits for its Trans Mountain pipeline expansion, a major victory for the $7.4-billion project.

Rogers Communications Inc said on Thursday that the chairman of its board, Alan Horn, will step down effective Jan. 1 and be replaced by Edward Rogers, the company's current deputy chair and son of founder Ted Rogers.

Barclays raised target price on Canadian Western Bank to $36 from $33

RBC raised the target price on Marathon Gold to $1.80 from $1.70

The Bank of Canada has insisted its interest rate decisions are data-dependent, yet analysts were puzzled this week when policy makers took a more cautious tone than strong domestic data would suggest.

On the data beat, Canada Mortgage and Housing Corporation reported that housing starts came in at 226,270 units in November, compared to 216,642 units in October. Experts had pegged housing starts at 215,000 units in November.

ON BAYSTREET

The TSX Venture Exchange gained 3.96 points to close Thursday at 787.62

ON WALLSTREET

U.S. stock index futures pointed to a higher open on Friday after the November jobs report showed better-than-expected growth.

Futures for the Dow Jones Industrials hiked 47 points, or 0.2%, to 24,293

S&P 500 futures acquired six points, or 0.2%, at 2,648.25, while futures on the NASDAQ Composite index gained 29 points, or 0.5%, to 6,370.75

No major earnings are set to be published Friday.

The U.S. economy added 228,000 jobs last month, according to the Bureau of Labor Statistics. Economists expected a gain of 200,000.

Other data set for release Friday include consumer sentiment and wholesale trade figures due out at 10 a.m. ET.

On Friday morning, the European Union and Britain jointly announced that they had finally agreed upon three key issues that were obstructing Brexit talks from developing — issues surrounding citizens' rights, the Irish border and the U.K.'s economic settlement to the EU have now been resolved.

Overseas, European stocks rose approaching noon local time, while Japan's Nikkei 225 spiked 1.4%. In Hong Kong, the Hang Seng Index marched ahead 1.2%

Oil prices gained 99 cents to $57.68 U.S. per barrel.

Gold prices sank $4.10 to $1,249 U.S. an ounce.



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