ended higher after three consecutive sessions of losses, gaining 1.12 percent. The Shanghai Composite Index rose 0.46%. Hong Kong's Hang Seng rose 0.47%
Commodities
Crude prices fell at the beginning of the month after a report showed a surprise increase in US stocks. Rising Saudi production and persistent commercial concerns have also undermined market sentiment. The Brent price was trading down and was near the low end of the range of US $ 76.60 to US $ 7768 at the last check. West Texas Intermediate was also near the bottom of the range of US $ 72.40 to US $ 73.32
Thursday, the US Energy Information Administration said crude inventories last week increased by 1 , 3 million barrels. Analysts were expecting to see a drop in stocks.
In a report released Friday, Desjardins Securities said that the main geopolitical risks would probably remain the main drivers of the market at this stage. An official of the Iranian Revolutionary Guards Corps recently threatened to block the strategic strait of Ormuz in case of US sanctions on oil exports, Desjardins said
. "The Strait is the largest gross flow point of the international energy supply chain, with volumes of about 19 million barrels coming from Saudi Arabia, Kuwait, the United States, and the United States. United Arab Emirates, Qatar, Bahrain, Iraq and Iran, 30% of global volumes of waterborne, "the report said. A Reuters report also indicates that Saudi Arabia told OPEC that it had increased oil production by nearly 500,000 barrels a day last month, signaling a desire to offset deficits elsewhere. and temper recent price increases
. Later in the day, markets read drill activity in the United States with the publication of the latest count report by energy services firm Baker Hughes
.
Currencies and Bonds
The Canadian dollar was slightly lower than its US counterpart following the latest labor market readings in Canada. The range of days on the loonie up to now is 76.04 US cents to 76.20 US cents
Statistics Canada said the Canadian economy added 31,800 new jobs last month, more than the market had planned. However, the unemployment rate rose to 6%
The loonie experienced a brief rise in numbers, but it quickly returned to levels just prior to the release of the report.
"Overall, not in the details," writes economist Avery Shenfeld, CIBC World Markets, in a note.
In other currencies, the US dollar retreated as tariffs a temperate reaction in the currency markets suggests that the move had already been integrated.
The US dollar index fell to 94,025 at the last check. Trade concerns continue to weigh on the sentiment
"It's a boost for inflation and a drag on growth everywhere and despite the reaction" buy the news "today, the dollar and the yen should be the main winners "In commercial terms, [the Australian, New Zealand and Canadian dollars] will all suffer from commercial wars, [Japanese Yen] and [U.S.. dollar] win," he noted. "The largest share of trade in European GDP means that the euro is not helped by escalation."
In bonds, US Treasury yields were slightly lower than US employment figures. The yield on the 10-year note was down to 2.833 percent. The yield on the 30-year note was also lower at 2,947 percent.
Stocks to see the action
Hudson's Bay Co. reported on Friday that it did not have a mandatory sell or sell agreement combine its European holdings. The media reported this week that HBC had agreed to sell about half of its European business to Austrian Signa Holding. In a statement on Friday, HBC said it was in talks with Signa and that it had signed a non-binding letter of intention relating to the exploration of a joint venture, but there is no guarantee that the talks will result in a transaction.
Aurora Cannabis Inc. says that she was given permission for her purchase of MedReleaf Corp. . Aurora says the Canadian Competition Bureau has issued a non-intervention letter related to the transaction. The transaction will be voted by the shareholders on July 18th. Voting advisers Glass Lewis and Institutional Shareholder Services Inc. both recommended Friday that Aurora shareholders vote in favor of the deal.
Barrick Gold's Acacia Mining company he forecast that production by 2018 would reach the upper limit of the reduced target of 435,000 to 475,000 ounces this year. Acacia said the first half of production has dropped more than 40 percent to 254,759 ounces compared to the previous year. It produced 133,778 ounces of gold in the second quarter, down 36% from last year, due to reduced activity at its flagship Bulyanhulu mine.
The Taiwanese smartphone maker HTC Corp said its sales fell nearly 68 percent in June, its biggest decline in more than two years. Once a favorite with consumers and investors, the popularity of HTC has decreased with the emergence of rivals such as Apple, Samsung Electronics Co Ltd and more recently Xiaomi Corp.
Bloomberg reports that Zambia agreed to give First Quantum Minerals Ltd. More time to complete its analysis of what the company might owe to the nation of southern Africa after slapped with a tax bill of $ 7.9 billion, according to the Minister of Finance. The Vancouver-based company challenges the assessment of Zambia's tax agency, which claims that First Quantum wrongly declared imports for one of its two mines into the second largest copper producer in Africa . The government has audited major mining companies operating in the country, including Vedanta Resources Plc and Glencore Plc.
More reading:
Traders are struggling with a big question: are tariffs integrated?
Friday & # 39; s Insider Report
] Economic News
Canada created 31,800 new jobs last month. The unemployment rate rose to 6%.
U.S. The non-farm payroll added 213,000 new jobs in June. The unemployment rate rose to 4%.
The US Department of Commerce says May's trade deficit dropped 6.6 percent to $ 43.1 billion. It was the smallest imbalance since October 2016.
Canada's trade deficit widened to $ 2.8 billion in May, from $ 1.9 billion. According to Statscan, imports increased by 1.7% while exports decreased by 0.1%.
With Reuters, Bloomberg and The Canadian Press
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