Nov. 13, 2009 (Baystreet.ca) --
Bay Street stocks saw a lackluster open on Friday morning as commodities remained close to the unchanged levels. The market fell about 0.7% yesterday amid weakness in the resource sectors.
The S&P/TSX Composite Index was off 14.05 points at the start of the session at 11,346.71.
Enerplus Resources Fund reported net income for the third quarter slid to $38.18 million or $0.23 per share from $465.8 million or $2.82 per share in the corresponding period last year.
Stella-Jones reported third-quarter net earnings grew to $8.32 million or $0.65 per share from $6.85 million or $0.54 per share in the previous year.
Uranium One reported a third-quarter net loss of $11.9 million U.S. or $0.03 U.S. per share compared to a loss of $2.01 billion U.S. or $4.30 U.S. per share last year.
TransAtlantic Petroleum said its third-quarter consolidated net loss was $13.1 million U.S. or $0.05 U.S. per share compared with a loss of $1.5 million U.S. or $0.02 U.S. per share in the third quarter of 2008.
Groupe Aeroplan Inc. said its third-quarter GAAP net earnings decreased to $18.75 million or $0.09 per share from $34.95 million or $0.18 per share in the prior-year period.
The Canadian dollar tacked on 0.34 cents to 95.05 cents U.S.
ON BAYSTREET
All but three of the 14 TSX subgroups were lower in the first hour of trading, weighed down by information technology stocks, down 0.7%, while consumer discretionary and staples stocks fell 0.6% each.
The three gainers were global base metals, up 0.7%, gold, gaining 0.5% and telecom, 0.1%.
The TSX Venture Exchange inched forward 0.27 points to 1,351.02, while the Nasdaq Canada index declined 4.15 points to 671.16.
ON WALLSTREET
In New York, stocks rebounded on Friday as investors eyed opportunities after the previous session's sharp drop that snapped a six-day rally.
The Dow Jones Industrials moved 37.71 points ahead to 10,235.18. The S&P 500 index was up 3.14 points to 1,090.38, while the Nasdaq composite index went higher by 5.71 points to 2,154.73.
Stocks had slumped Thursday, as jitters about the economic recovery led investors to question the sustainability of the recent rally.
A government report on the trade balance showed the nation's gap between imported and exported goods and services grew to $36.5 billion U.S. in October, up from $30.8 billion U.S. in September.
That was much larger than economists' expectation of $31.1 billion U.S., according to Briefing.com.
But import prices grew only 0.7%, lower than the 1% that economists predicted. Most of that increase was on rising oil prices.
Investors will also be closely watching the University of Michigan's consumer sentiment index, which was released at 9:55 a.m. ET.
Disney reported quarterly results late Thursday that showed signs of a turnaround at the company. It also swapped the roles of two top executives.
Also after the closing bell Thursday, upscale retailer Nordstrom posted a quarterly profit that was below analysts' forecasts and said it expects a drop in full-year same-store sales.
Treasury prices eased higher, lowering the yield on the benchmark 10-year note to 3.43% from Thursday's 3.44%. Prices and yields move in opposite directions.
The price of a barrel of oil dipped $1.06 to $75.83 U.S.
Gold prices were flat at $1,107 U.S. an ounce.
