Toronto’s main stock index looked set to open lower on Friday, as lingering worries about a possible Greek exit from the euro zone offset firmer commodity prices.
The S&P/TSX Composite Index gained a mere 1.27 points to end Thursday at 11,566.07.
Among stocks to watch this morning, Enbridge Inc. said on Thursday shippers on its Ozark and Spearhead crude oil pipelines had overbooked capacity for June.
ON BAYSTREET
The TSX Venture Exchange gained 25.99 points to 1,282.47, while the Nasdaq Canada staggered 5.17 points to 363.82.
The Canadian dollar traded this morning down 0.15 cents to 97.28 cents U.S.
ON WALLSTREET
Stocks were relatively unchanged on Friday morning, with investors weighing hopes that European policy makers will take action against the latest spike in anxiety over the region's sovereign-debt crisis weighing against some pretty dismal reality.
Futures for the Dow Industrials shed 10 points to 12,526 with about half an hour before the opening bell, while futures for the broader S&P 500 gave back two points, or 0.2%, to 1,320.60, and futures for the tech-rich Nasdaq dropped 3.75 points, or 0.2%, to 2,532.50.
The moves come amid some bustle in Europe. On Thursday evening, Italy's prime minister, Mario Monti, said that Germany could be persuaded to accept the introduction of euro bonds -- seen by some as a potential salve for the debt crisis though rejected earlier.
Some observers also believe that the latest twist in the crisis -- which has threatened to push out Greece from the euro zone amid fears of financial contagion should it go -- is getting bad enough to warrant a reaction from the European Central Bank.
According to this line of thinking, the E.C.B. could respond with interest rate cuts or other forms of economic stimulus and financial liquidity.
Meanwhile, Friday is relatively light in North America, with the only major economic release the latest reading on U.S. consumer confidence from the University of Michigan. Economists are expecting no change from the previous reading of 77.8.
The U.K.'s FTSE 100 fell 0.4% in afternoon trading. Germany's DAX index rose 0.1% in afternoon trading. Japan's Nikkei 225 rose 0.2% in overnight trading
Gold rose to $1,564.90 U.S. an ounce, up $5.10
Crude oil rose to $91.07 U.S. a barrel, up 41 cents
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