Canada’s main stock index opened lower on Friday, weighed down by miners, after stronger-than-expected jobs data in the United States pushed traders to slash bets on a September rate cut by the Federal Reserve.
The S&P/TSX Composite Index bowed 127.86 points to begin the week’s last session at 22,101.24.
The Canadian dollar took on 0.11 cents at 73.16 cents U.S.
In company news, Canada’s biggest oil sands producers extended their support for a tax on carbon but see a proposed federal oil and gas emissions cap as “unnecessary legislation”, the CEOs of these companies told lawmakers in Ottawa on Thursday.
On the economic front, Statistics Canada reports employment was little changed in May (+27,000; +0.1%), and the unemployment rate moved up to 6.2% from 6.1%.
ON BAYSTREET
The TSX Venture Exchange dipped 7.57 points, or 1.3%, to 594.41.
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