Shares in Canadian companies fell Friday morning in tandem with declines registered by U.S.-listed firms following the release of new data that showed the pace of hiring unexpectedly slowed in the United States.
The composite index for the Toronto Stock Exchange slipped about one per cent to 13,128 points at the open. Declines were more pronounced south of the border.
In New York, the Dow Jones industrial average fell more than 220 points, or 1.5 per cent. The S&P 500 declined 24.25 points or 1.24 per cent while the Nasdaq lost 56.48 points to 4,570.0.
The Canadian dollar climbed on the news, gain more than one-third of a U.S. cent as Friday trading began on North American stock markets.
Loonie, oil
The loonie was at 75.82 cents US, up 0.38 of a cent from Thursday close.
Oil prices slipped into the red after the report was released by the U.S. Labor Department, which showed the U.S. economy — the world’s largest — added 142,000 jobs in September. Experts were banking on growth of more than 200,000 positions, but concerns over the health of the global economy, especially the outlook for China, sapped hiring intentions last month.
November crude contract was up 23 cents at US$44.97 a barrel overnight before pulling back.
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