TSX Surges at Open

Canada’s main stock index opened higher on Friday, driven by energy stocks, and was set to post a weekly gain, while Air Canada reported a bigger-than-expected quarterly loss.

The TSX Composite index hiked 59.97 points to open the week’s last session at 20,157.49

The Canadian dollar gained 4.5 cents to 79.59 cents U.S.

Air Canada shares ended Thursday at $25.06.

Magna International said on Thursday it entered a deal to buy automotive technology firm Veoneer Inc in a deal valued at about $3.8 billion.

Magna started Friday at $107.01.

RBC cuts target price on Equitable Group to $161.00 from $169.00. Equitable Group shares added 21 cents at the outset to $138.38.

Cormark Securities raised price target on Fairfax Financial Holdings to $700.00 from $675.00. Fairfax shares were hoping to improve on a Thursday perch of $527.44.

National Bank of Canada initiates coverage on Magnet Forensics with outperform rating. Magnet closed … Read more

Stocks Flat as Jobless Claims Top Projections

U.S. stocks were flat as an unexpected jump in jobless claims kept investors on edge about the economy.

The Dow Jones Industrials handed back 33.47 points, to begin Thursday at 34,764.53.

The Dow is up slightly on the week and sits about 1% from a record high.

The S&P 500 inched up 1.66 points to 4,360.53

The NASDAQ added 34.28 points to 14,666.23.

Names closely linked to the economic reopening were lower on Thursday morning. Royal Caribbean is down 1.5%. Energy stocks rallied this week as oil rebounded back above $70 a barrel, however, the Energy Select SPDR fell about 1%. Bank shares are trading slightly in the red.

American Airlines posted a profit for the second-quarter before the trading session started, snapping a streak of five straight quarters with losses, thanks to the recovery in travel demand and government aid. The shares, which were up 8% this week, are … Read more