North American markets are opening amid mixed global signals, ahead of U.S. November unemployment figures.
Prior to the start of trading Dow Jones Industrial Average futures had risen 9 points, while S&P futures fell 0.2 and Nasdaq 100 futures were down 2.2. Some economists predicted the jobs report would cite 110,000 new jobs, up from 92,000 in October, along with a slim increase in unemployment.
In Asian markets, Tokyo trading was dragged down by disappointing economic reports. The benchmark Nikkei 225 stock index retreated 55.54 points, or 0.34%, to 16,417.82.
In Hong Kong, the Hang Seng Index lost 103 points, or 0.55%, to 18,739.99.
The Canadian dollar opened at US89.96 cents, down 0.08 of a cent.
Toronto-Dominion Bank reported a 29% increase in fourth-quarter profit on Friday, thanks largely to gains in its domestic businesses. The bank reported net income of $762 million, or C$1.04 a share, in the quarter ended October 31, up from $589 million, or 82 Canadian cents a share for the same time last year.
Yesterday, Toronto stocks closed up, reaching a new record high close, powered by the materials sector and a strong day in financials.
The S&P/TSX composite index moved up 25.88, or 0.20%, to 12,915.72.
Seven of the 10 TSX main sub-groups were up, with the financials sector gaining 0.75%.
The Canadian dollar moved 0.11 of a cent lower to US87.02¢.
CIBC Financial Group gained $2.55, or 2.76%, to $94.80 as the country’s fifth largest bank reported net earnings of $2.6 billion for 2006, after posting a $32 million loss in 2005 after absorbing a $2.5 billion dollar after-tax hit on an Enron-related settlement deal.
The energy sector fell 0.45%. Light, sweet crude futures closed up 30¢ at US$62.49 a barrel.
Husky Energy Inc. fell $1.31, or 1.65%, to $78.22.
The materials sector gained 0.58%, while the gold sub-sector was up 1.14%.
Gold futures gained $1.10 to close at US$637 an ounce.
Kinross Gold Corp. gained 26¢, or 1.83%, to $14.48.
The S&P TSX Venture Exchange fell 9.31, or 0.33%, to 2,808.35.
In New York, markets moved lower for the second-straight session and investors reacted to negative corporate news.
The Dow Jones Industrial Average fell 30.84, or 0.25%, to 12,278.41, the Nasdaq moved lower 18.17, or 0.74%, to 2,427.69, and the S&P500 dipped 5.61, or 0.40%, to 1,407.29.
Opening bell: Stocks open to mixed signals
Asian markets down as dollar opens slightly lower
- By: IE Staff
- December 8, 2006 December 8, 2006
- 09:06