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Jan. 17, 2020, 10:28 a.m. EST

TSX Hikes to New Record

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Jan 17, 2020 (Baystreet.ca via COMTEX) -- Equity markets in Canada's largest centre opened higher on Friday, tracking gains in global equities, as upbeat Chinese economic data pointed to signs of stabilization in the world's second-largest economy.

The TSX Composite Index moved upward 38.45 points to begin Friday at 17,484.77

The Canadian dollar demurred 0.07 cents to 76.61 cents U.S.

CIBC cut the target price on Bombardier to $2.25 from $3.00. Bombardier shares were static at $1.22.

Scotiabank raised target price on Canadian Pacific Railway to $340.00 from $320.00. CP shares gained $1.42 to $341.69.

National Bank of Canada raised the price target on Pinnacle Renewable Energy to $15.00 from $14.00. Pinnacle shares moved ahead 24 cents, or 2.3%, to $10.74.

On the economic slate, Statistics Canada reported that Canadian investors increased their holdings in foreign securities to $5.5 billion in November as Canadian investors resumed their purchases of foreign equities.

At the same time, foreign investors reduced their holdings of Canadian securities by $1.8 billion, the first decline in four months

ON BAYSTREET

The TSX Venture Exchange gained 2.05 points to 585.16

Eight of the 12 TSX subgroups opened positive, primarily real-estate, up 0.4%, while financials and consumer discretionary stocks each surged 0.3%.

The four laggards were weighed most by health-care issues, hesitating 0.3%, while gold and energy each faded 0.1%.

ON WALLSTREET

Stocks opened at record highs on Friday as strong global economic data and a solid start to the earnings season led to another week of gains.

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