TSX Eases From Record Highs On Rate Hike Talk -- Canadian Commentary

(RTTNews) - Canadian stocks ended the week on a sour note Friday, as an upbeat jobs report generated speculation the Bank of Canada will soon raise interest rates.

The TSX Composite slipped 63.50 points to 16,349.44.

The index touched new record highs this week due to economic optimism, higher oil prices and strong marijuana stocks.

However, anti-marijuana talk from the Trump Administration and profit taking across most sectors quelled the rally mid-week.

The U.S. economy generated only 148,000 jobs in December and wage growth was lackluster, fueling concerns of another winter lull for the world's largest economy.

Meanwhile, Canadian employment increased for a third consecutive month, up 79,000 in December. The unemployment rate fell to to 5.7%, the lowest since comparable figures were available forty years ago.

In corporate news, TD (TD.TO) and RBC Bank (RY.TO) have been deluged by complaints about outages in the trading platforms to start the new year.

Brookfield Business Partners L.P. (BBU) announced an agreement to acquire a 75% controlling interest in the Schoeller Allibert Group, a manufacturer of returnable plastic packaging systems in Europe for 205 million euros.

Aurora Cannabis (ACB.TO) has upped its stake in CanniMed to 2.7%. Aurora is also buying a 17.6-percent stake in privately-held marijuana grower Green Organic Dutchman Holdings for $55 million.

Tim Hortons, owned by Restaurant Brands (QSR.TO), is under fire after Horton's heirs told workers at two franchises that the were no longer entitled to paid breaks and had to pay more for health benefits because the government raised minimum wages.