(RTTNews.com) - The Canadian stock market began Friday's session in the red, but has since pared its early losses and is now hovering around the flat line. Energy and gold stocks are rising this morning, along with commodity prices. However, financial and industrial stocks are lagging behind.
After a positive start to the day, the majority of the European markets have slipped into negative territory. Traders are turning cautious going into the weekend due to Brexit uncertainty and Italy's budget battle with the European Commission.
Markets on Wall Street got off to a weak start Friday, but have since pared their early losses. Early weakness was caused by disappointing earnings reports from Nvidia, Williams-Sonoma, Nordstrom and more.
The benchmark S&P/TSX Composite Index is down 2.71 points or 0.02 percent at 15,142.17.
On Thursday, the index closed up by 11.76 points or 0.08 percent, at 15,144.88. The index scaled an intraday high of 15,177.56 and a low of 15,068.21.
The Gold Index is increasing 0.94 percent. Goldcorp (G.TO) is climbing 2.87 percent and Eldorado Gold (ELD.TO) is gaining 2.47 percent. Barrick Gold (ABX.TO) is rising 0.58 percent and IAMGOLD (IMG.TO) is up 3.69 percent. Yamana Gold (YRI.TO) is higher by 0.35 percent and Kinross Gold (K.TO) is adding 1.22 percent. B2Gold (BTO.TO) is advancing 2.26 percent.
The Capped Materials Index is up 0.65 percent. Franco-Nevada (FNV.TO) is advancing 1.51 percent and Agnico Eagle Mines (AEM.TO) is rising 1.44 percent. Nutrien (NTR.TO) is gaining 0.11 percent.
The Energy Index is rising 0.26 percent. Imperial Oil (IMO.TO) is gaining 0.88 percent and Husky Energy (HSE.TO) is adding 0.11 percent. Suncor Energy (SU.TO) is up 0.22 percent.
The Capped Information Technology Index is gaining 0.32 percent. Constellation Software (CSU.TO) is up 0.21 percent and Descartes Systems Group (DSG.TO) is adding 0.11 percent.
BlackBerry (BB.TO) is rising 2.15 percent after it announced a definitive agreement to wholly acquire Cylance, an artificial intelligence and cybersecurity provider, for $1.4 billion in cash, plus the assumption of unvested employee incentive awards.
The Capped Industrials Index is down 0.42 percent. Air Canada (AC.TO) is falling 1.27 percent and Bombardier (BBD-B.TO) is decreasing 14.83 percent.
The heavyweight Financial Index is decreasing 0.36 percent. Bank of Nova Scotia (BNS.TO) is losing 0.35 percent and Royal Bank of Canada (RY.TO) is down 0.26 percent. Toronto-Dominion Bank (TD.TO) is declining 0.70 percent and Bank of Montreal (BMO.TO) is falling 0.50 percent. Canadian Imperial Bank of Commerce (CM.TO) is surrendering 0.42 percent.
Uni-Select Inc. (UNS.TO) is climbing 3 percent after it announced that one of its subsidiaries has completed the acquisition of all the outstanding shares of Autochoice Parts & Paints Limited. As Autochoice operates its business from 18 locations located in the Canadian Atlantic region, this acquisition will significantly expand Uni-Select's footprint in the Provinces of New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland.
On the economic front, Eurozone inflation accelerated in October at the fastest pace in almost six years, as estimated initially, final figures from Eurostat showed on Friday. The consumer price index rose 2.2 percent year-on-year after a 2.1 percent increase in September. Inflation was the highest since December 2012.
Germany's wholesale prices climbed at a faster pace in October, data from Destatis revealed Friday. Wholesale price inflation improved to 4 percent from 3.5 percent in the previous month.
In commodities, crude oil futures for December delivery are up 1.38 or 2.44 percent at $57.84 a barrel.
Natural gas for December is up 0.289 or 7.16 percent at $4.327 per million btu.
Gold futures for December are up 7.70 or 0.63 percent at $1,222.70 an ounce.
Silver for December is up 0.082 or 0.57 percent at $14.345 an ounce.
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