Plus   Neg

TSX Ends Rough Week On Down Note -- Canadian Commentary

Canadian stocks nudged lower Friday, extending this week's losses sparked by the looming conflict between North Korea and the West.

At last check, the TSX Composite Index slipped 31.62 points to 15,042, as investors remained jittery ahead of the weekend.

"Military solutions are now fully in place, locked and loaded, should North Korea act unwisely. Hopefully Kim Jong Un will find another path!" President Donald Trump tweeted.

Automotive supplier Magna International Inc. (MG.TO, MGA) Friday said it now expects fiscal 2017 total sales between $37.7 billion and $39.4 billion, higher than previous estimate of $36.6 billion to $38.3 billion. Shares slipped 3.1 percent.

Telus (T.TO) reported a smaller-than-expected profit, but added almost 100,000 customers last quarter. Shares slipped 1.6 percent.

Saudi Aramco reportedly favors the NYSE over other exchanges such as the TSX.

Global oil demand is expected to reach 1.5 million barrels per day this year, the IEA said, revising up its July forecast from 1.4 million. In 2018 demand is seen growing by a further 1.4 million.

Meanwhile, Baker Hughes reported that the number of active U.S. rigs drilling for oil climbed by 3 to 768 rigs this week. However, the total active U.S. rig count including nat gas rigs fell by 5 to 949

Sept. WTI oil up 23 cents, or 0.5%, for the session to settle at $48.82/bbl, but were down 1.5% this week. Natural gas was up 7.5% after domestic supplies rose at a small pace.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Market Analysis

Follow RTT