Enbridge, Fairfax in news
The S&P/TSX composite index gained 44.39 points to open Friday at 14,046.04
The Canadian dollar fell
Enbridge Inc reported a fourth-quarter loss, mainly due to losses on hedging contracts. Enbridge shares acquired a dime to
West Fraser Timber reported a slight decline in adjusted fourth-quarter profit on Thursday as higher lumber prices were outweighed by reduced shipments. West
On the word economic front, lightly stronger-than-expected growth in
Closer to home, Statistics Canada reported that manufacturing sales in
All but two of the 14 Toronto subgroups were up on the morning so far, with gold up 3.2%, materials hiking 1.8%, and global base metals gaining 0.8%.
The two laggards were information technology, down 0.3%, and health-care stocks sliding 0.2%.
Investors showed some affection for stocks Friday, but gold was feeling loved on
The Dow Jones Industrial Average gained 42.42 points to open at 16,070.01.
The S&P 500 index forged higher 3.66 points to 1,833.49. The NASDAQ nicked up 0.31 points to 4,240.98
Despite the sluggish start to the day, stocks have been on a tear in February. The S&P 500 has gained more than 3% this week and is now within 1% of an all-time high.
But gold has also gained momentum. The precious metal rose above
In corporate news, Jos. A. Bank shares fell after the clothing retailer announced that it was acquiring
Shares of Campbell Soup rose after the company reported better-than-expected earnings. Hyatt Hotels also reported earnings that topped expectations, sending shares higher in early trading.
Kraft Foods shares were higher following quarterly results that beat expectations.
Prices for 10-year U.S. Treasuries were unchanged, keeping yields at Thursday's 2.74%.
Oil prices dipped
Gold prices increased
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