Canada's main stock index looked set to open higher on Friday, extending gains from the previous session, after German Chancellor Angela Merkel said she supported the European Central Bank's efforts to resolve the debt crisis.
The S&P/TSX Composite index vaulted 127.14 points, or 1.1%, to close Thursday at 12,032.58. Futures this morning traded up 0.1%.
The Canadian dollar faded 0.18 cents Friday morning to 101.17 cents U.S.
Stocks to watch this morning include Potash Corp, which said on Thursday it will shut down its Lanigan, Saskatchewan mine for nearly a month, as the fertilizer industry grapples with large supplies.
Research In Motion plans to provide users with an easy way to tap their contacts' public profiles -- including blog posts, tweets, emails and other details -- in its latest push to regain ground in the smartphone market.
On the economic beat, Statistics Canada revealed this morning that consumer prices rose 1.3% in the 12 months to July, following a 1.5% increase in June. On a seasonally adjusted monthly basis, the CPI declined 0.1% in July, after decreasing 0.2% in June.
ON BAYSTREET
The TSX Venture Exchange gained 14.63 points Thursday to 1,217.05. The Nasdaq Canada advanced 3.52 points to 350.14.
ON WALLSTREET
U.S. stocks were poised for a mixed start Friday as investors close the books on a quiet trading week.
Futures for the Dow Jones Industrials lost three points to 13,222, about 30 minutes before the opening bell. Futures for the S&P 500 shed 1.4 points, or 0.1%, to 1,411.70, and for the Nasdaq, futures gathered 5.5 points, or 0.2%, to 2,769.
Companies, including retailer Foot Locker and food producer J.M. Smucker, reported their quarterly results Friday morning.
Moreover, the Michigan Consumer Sentiment Index and the Conference Board's leading indicators reading will be released just after the open.
European stocks rose slightly in midday trading. Britain's FTSE 100 ticked up 0.1%, the DAX in Germany added 0.2% and France's CAC 40 was flat.
German Chancellor Angela Merkel reiterated late Thursday that European policymakers are committed to doing everything they can to support the euro, reigniting hope for further central bank action.
Asian markets ended higher. The Shanghai Composite closed up 0.1%, while the Hang Seng in Hong Kong and Japan's Nikkei gained 0.8%.
Oil for September delivery fell 75 cents to $95.53 U.S. a barrel.
Gold futures for December delivery lost nine cents to $1,614.60 U.S. an ounce.
