TSX Ends Week On A Sour Note -- Canadian Commentary

(RTTNews) - Canadian stocks were slightly weaker Friday, ending an uneven weak amid lingering concerns about the financials sector.

The TSX Composite was down 12.67 points, or 0.08 percent, to 15,537.88. Financials extended weekly losses, while energy stocks were also weaker.

Embattled lender Home Capital (HCG.TO) reported delayed earnings last night. Profit fell to $58-million, or 90 cents a share, in the first three months of the year. That was down from $64.2-million, or 92 cents a share one year earlier.

"Potential future impact resulting from reputational concerns is inherently difficult to predict," Home Capital said. "Therefore management believes that material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern."

Shares fell 15 percent, ending this week's comeback.

Hudson's Bay Co (HBC.TO) reported lower quarterly sales, citing sluggish traffic at its Saks Fifth Avenue and Lord & Taylor locations. Shares slipped 4.5 percent.

On a positive note, gaming site operator Amaya (AYA.TO) beat profit estimates and added more customers last quarter. Shares rose 3.3 percent.

The Canada Pension Plan Investment Board (CPPIB) is considering a bid for Dominion Diamond (DDC.TO), Reuters reports. Shares rose 1.3 percent.

Crude oil futures were flat near $48 a barrel Friday, as industry data showed U.S. drillers added rigs for a 17th week in a row.

Some analysts thought U.S. oil activity might have slowed amid sub-$50 oil prices, but Baker Hughes said the number of rigs drilling for new production jumped by 9 to a total of 712, versus 318 at this time last year.