Stocks were set to open higher on Friday in Toronto, with investors taking in inflation and retail sales data.
The S&P/TSX Composite Index was only 8.69 points below Wednesday’s closing figure to finish at 13,817.32, with June futures bolting up 0.4%.
Canadian markets will be shuttered Monday for Victoria Day holiday.
The Canadian dollar fading 0.08 cents, to 76.29 cents early Friday
Beleaguered drug maker Valeant Pharmaceuticals International Inc said it received a notice of default from bondholders for the delay in filing its first-quarter report.
CIBC raised the target price on CAE to $18.00 from $17.50
CIBC cut the target price on Dragonwave to $25.00 from $30.00
RBC raised the target price on Paramount Resources to $10.00 from $9.00 with a sector perform
On the economic slate, Statistics Canada reported that inflation hiked in April, as the consumer price index increased 1.7%, after a jump of 1.3% the month before.
The agency adds that, on a seasonally-adjusted monthly basis, the CPI increased 0.2% in April, matching the gain in March
The agency also reported that retail sales slumped 1% in March to $43.8 billion, after gaining in January and February. Sales were down in six of 11 sub-sectors, representing 74% of total retail trade.
ON BAYSTREET
The TSX Venture Exchange gained 3.98 points Thursday to 678.23
ON WALLSTREET
U.S. stock futures are rising Friday.
Ahead of the opening bell, futures for the Dow Jones Industrials moved ahead 52 points, or 0.3%, to 17,467, while futures for the S&P 500 added 5.75 points, or 0.3%, to 2,044.50. NASDAQ futures gained 16.25 points, or 0.4%, to 4,333.50.
Shares in energy infrastructure firm Kinder Morgan are set to rally at the open after Canada's National Energy Board approved plans for the company to expand a major pipeline.
However, the company still needs one final approval from a top Canadian authority before the project can proceed.
Campbell Soup, Deere and Foot Locker are among the key companies reporting quarterly results before the open.
On the economic front, the National Association of Realtors will report the latest monthly data on existing U.S. home sales, giving insight into developments in the housing sector.
Most indexes in Europe are up by about 1% in early trading and the vast majority of Asian markets ended the day with positive results.
Oil prices dipped two cents to $48.14 U.S. a barrel
Gold prices gained $1.05 to $1,248.16 U.S. an ounce.
