Toronto's resource-heavy index looked set to open higher on Friday, tracking global markets on reinvigorated hopes that central bank meetings next week will bring new steps to help the struggling global economy.
The S&P/TSX Composite index prospered 147.24 points, or 1.3%, to conclude Thursday at 11,639.75. Canada stock futures traded up 0.3%.
The Canadian dollar vaulted 0.13 cents Friday morning to 99.15 cents U.S.
Among stocks to watch this morning, paper maker Domtar Corp posted a 9% rise in second-quarter profit on growth at its personal care segment.
TMX Group Inc, operator of the Toronto Stock Exchange, reported a sharp fall in second-quarter profit ahead of its $3.8-billion takeover by the Maple Group consortium.
Toy maker Mega Brands Inc's quarterly profit rose five-fold on higher sales in North America.
Trucker TransForce Inc reported a 30% higher second-quarter profit on improved performance of its package and courier unit.
ON BAYSTREET
The TSX Venture Exchange was up 9.10 points to 1,181.42. The Nasdaq Canada index gained 3.09 points to 333.17.
ON WALLSTREET
U.S. stocks head for a higher open Friday as investors welcome a slightly better-than-expected reading on U.S. second-quarter GDP, and amid continued hope of help for Europe's troubled nations.
Futures for the Dow Jones gained 29 points, or 0.2%, to 12,854, about 30 minutes before the opening bell. Futures for the S&P 500 picked up 4.9 points, or 0.4%, to 1,359.70, and for the Nasdaq, futures jumped 17.50 points, or 0.7%, to 2,590
The U.S. economy grew at a 1.5% annual rate in the second quarter of 2012, according to the government's first reading.
While that's down significantly from a 2% rate in the first three months of the year, it's slightly better than the predicted 1.4% annual pace.
Meanwhile, Europe remains at the forefront of investors' minds.
The European Central Bank and European governments are reportedly talking about taking coordinated steps to start buying Spanish and Italian debt, according to a French newspaper Le Monde.
Citing unnamed sources, the newspaper reported that the ECB was willing to buy the bonds if eurozone governments also agreed to tap the European bailout funds, the European Financial Stability Facility and the European Stability Mechanism.
After spending most of the morning in the red, European issues were turned higher following the Le Monde report. Britain's FTSE 100 and the DAX in Germany were up 0.1%, while France's CAC 40 gained 1%.
Asian markets ended higher. The Shanghai Composite ticked up 0.1%, the Hang Seng in Hong Kong gained 2% and Japan's Nikkei added 1.5%.
Oil for September delivery rose 30 cents to $89.69 U.S. a barrel.
Gold futures for August delivery rose $10.20 to $1,625.30 U.S. an ounce.
