Stocks Sag at Thursday Open

Jul 05, 2018 (Baystreet.ca via COMTEX) —

Canada’s main stock index opened little changed on Thursday as gains in energy companies were offset by a decline in materials stocks.

The S&P/TSX Composite Index descended 34.05 points to open Thursday trading at 16,270.67

The Canadian dollar inched up 0.06 cents at 76.15 cents U.S.

Airbus Chief Executive Tom Enders said on Wednesday he expects to see the first results of the company’s new majority stake in Bombardier’s CSeries jetliner program within weeks, around the time of the Farnborough Air Show later this month.

Bombardier shares took on seven cents, or 1.4%, to $5.08.

Hudson’s Bay has agreed to sell about half of its European business to Austria’s Signa Holding in a deal that will bring together two major German department store chains.

Bay shares jumped 34 cents, or 2.9%, to $12.04.

CIBC raised the rating on Aecon Group to outperform from neutral. Aecon shares retreated seven cents to $15.45.

Canaccord Genuity initiated coverage on Lucara Diamond with buy rating and a $2.45 price target. Lucara shares gained three cents, or 1.4%, to $2.15.

ON BAYSTREET

The TSX Venture Exchange recharged 2.7 points to start Thursday at 741.45

All but two of the 12 TSX subgroups lost ground to start the session, as energy dipped 0.5%, while materials and industrials each lost 0.4%.

The two gainers were health-care and utilities, acquiring 0.3% each.

ON WALLSTREET

Stocks opened higher on Thursday as the Trump administration is reportedly hinting at concessions on tariffs against European cars.

The Dow Jones Industrials perked 144.04 points to 24,318.86, with Walgreens Boots Alliance outperforming.

The S&P 500 gained 13.5 points to 2,726.72, as tech shares rose 0.8%

The NASDAQ picked up 38.04 points to 7,540.71

Media reports quoted the U.S. ambassador to Germany that President Donald Trump could

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