TSX Ends Week On A Downbeat Note -- Canadian Commentary

(RTTNews) - Canadian stocks inched lower Friday amid speculation the Federal Reserve will raise interest rates next week.

The loonie jumped to 81 cents after yesterday's data showing Canadian economic growth accelerated the most in five years during the second quarter.

The TSX Composite Index was down 20.17 points, or 0.13 percent, to 15,191.60.

Hurricane Harvey will keep a number of BRP dealers in Texas and will likely affect sales for months to come, the jetski company said Friday. Shares were down 1.7%.

Lululemon shares jumped 7% in NY after the athletic apparel company said second-quarter profit and sales topped analysts' estimates.

Coming off a strong earnings season for the biggest banks, Fitch ratings agency has rated the Canadian financials as "among the best," according to the Globe and Mail. Banking stocks were flat.

Bombardier (BBD.B.TO), recently shut out of a US$3.2-billion contract to supply subway cars in New York City, issued a letter to employees blaming the company's poor performance on Toronto's rail system. Bombardier was down 0.8%.

"Our actions have exacerbated an already difficult mobility environment in New York City and our client's decision demonstrates that the market is no longer willing to accept delays in performance and suffer the impact of our shortcomings," wrote Benoit Brossoit.

"This is a serious warning shot and we must respond to it in accordance with our promises of delivery, time and without excuses."