Canadian stocks were set to open slightly higher on Friday, tracking a rise in commodity prices, though a sharp drop in Research in Motion after disappointing results is expected to drag on Toronto's main stock index.
Other Canadian stocks to watch this morning include Valeant Pharmaceuticals International Inc., which said its experimental antifungal drug met the main goals of two late-stage trials.
TransCanada Corp. said on Thursday it not only wants to proceed with its stalled Canada-to-Texas Keystone XL oil pipeline but to undertake a $600-million expansion and extension.
The Canadian dollar traded at 96.73 cents U.S., slightly higher than Thursday's close.
U.S. stock futures pushed higher and global stocks firmed as Italy prepared to approve austerity measures and economic data gave investors hope.
Dow futures gained 63 points, or 0.5%, rising to 11,885, while S&P 500 futures were 8.3 points, or 0.7%, higher at 1,220. Nasdaq futures were ahead 17.75 points, or 0.8% at 2,241.
Investors took heart after U.S. jobless claims dropped sharply last week to 366,000, the fewest since May 2008, and a report from the Federal Reserve of New York showed that its index measuring regional manufacturing jumped to the highest level since May.
Britain's FTSE 100 rose 0.4%, while France's CAC 40 and Germany's DAX were little changed.
Italian government bonds rallied just before Italy’s government faced a confidence vote in parliament. The vote was called to speed up approval of a 33-billion-euro ($43-billion U.S.) austerity package intended to restore confidence in the euro zone’s third-largest economy.
Greece's creditors are also making progress on determining how much private bondholders should contribute to the country's international bailout, a senior troika official said on Friday.
Japan's Nikkei rose 0.3%, while Hong Kong's Hang Seng gained 1.4%.
Gold rallied, after a sharp pullback in the four previous sessions, leaping almost 1% to $1,592.50 U.S. per ounce.
Copper gained 1.6% to $7,330 U.S. a tonne.
Crude oil rose 0.5% to $94.37 U.S. a barrel.
Related Stories
