Canadian Shares Slip on Friday
Toronto’s main stock index, the S&P/TSX, slipped 0.6% to close at 20,639 on Friday, partially offsetting last session gains, as investors digested a mixed US jobs report and concerns over the new Omicron Covid-19 variant, along with a series of hawkish remarks by Federal Reserve officials. Across the border, labor market data from the world’s largest economy disappointed with only 201 thousand jobs added last month against expectations of a 550 thousand increase in the workforce. In contrast, the Canadian employed population increased by 153.7 thousand persons in November, far outstripping market expectations of a 35 thousand expansion, while the jobless rate fell to 6%, less than forecasts of 6.6%. On the earnings front, Bank of Montreal reported better-than-expected Q4 earnings and raised dividends by 25% to C$1.33 per share, in line with its national peers.
14 hours ago