Canadian stocks opened mixed Thursday on easing commodities prices and worries resurfaced over Greece debt situation.
The S&P/TSX composite index nosed ahead 1.40 points to begin the day at 12,102.06.
Moreover, the main index ended at its best level in 17 months, which could prompt profit taking at higher levels.
Earlier, markets in Europe and the euro were under pressure on lack of clarity about the Greece's future after reports said the country could seek aid from the International Monetary Fund if European Union failed to support.
The price of oil moved down on concerns over demand growth. Meanwhile, bullion was almost flat after gaining over 2% so far this week.
In corporate news, oil and natural gas explorer Cequence Energy reported narrower loss of $0.41 per share for the full year 2009, compared to $0.84 per share in the prior year.
Exploration services provider Open Range Energy reported a lower funds from operations of $0.14 per share for the fourth quarter, compared to $0.23 per share in the prior-year quarter.
Oil and gas industry services provider Wenzel Downhole Tools slipped into the red in 2009, reporting a net loss of $0.05 per share compared with a profit of $0.41 per share a year ago.
Food products company Premium Brands Holdings reported fourth-quarter earnings of $0.19 per share, up from $0.18 reported in the prior-year quarter. However, earnings missed consensus estimates for a profit of $0.32 per share.
Mineral explorer Almaden Minerals said it has closed a private placement of 350,000 units at $1.00 per unit.
Mineral explorer European Goldfields reported fourth-quarter net loss of $0.04 per share, compared with a profit of $0.04 per share last year.
Gold and silver explorer Starcore International Mines posted second-quarter net income of $77,000, compared with a net loss of $22,000 in the previous-year period.
Silver producer Great Panther Silver reported fourth-quarter net income of $0.01 per share, compared to a loss of $0.02 per share during the same quarter last year.
Water treatment company BioteQ Environmental Technologies reported a net loss of $0.08 per share for fiscal 2009, compared to a loss of $0.09 per share a year ago.
Gaming software developer Chartwell Technology reported a net loss of $800,000 or $0.04 per share for the first quarter, compared to a net loss of $700,000 or $0.04 per share in the same quarter of last year.
Management technology services provider Solium Capital reported net earnings for the fourth quarter at $0.012, flat with last-year quarter.
Insurance services provider Intact Financial announced plans to issue medium term notes for $100 million.
Canadian Helicopters Income Fund reported fourth-quarter net earnings of $0.20 per unit, compared to a loss of $0.03 per unit in the prior-year quarter.
In economic news, Statistics Canada said foreign investments in Canadian securities continued to grow, hitting $11.8 billion in January, with more growth seen in debt instruments.
Meanwhile, Canadians withdrew $5.8 billion from their holdings of foreign securities in the same period.
The Canadian dollar was down 0.03 cents to 99.04 cents U.S.
ON BAYSTREET
The 14 TSX subgroups were evenly split between gainers and losers. Gold led the former group, advancing 0.7%, while information technology was ahead 0.5% and materials gained 0.3%.
The seven laggards were weighed by global base metals, off 0.4%, while the metals and mining and health-care groups sank 0.3% each.
The TSX Venture Exchange picked up 1.86 points to 1,579.64, while the Nasdaq Canada index gained 3.95 to 808.81.
ON WALLSTREET
In New York, stocks were poised to open slightly higher Thursday as investors digested key readings on inflation and employment that soothed some of the worries about the strength of the economy.
The Dow Jones industrial average added 12.17 points, to 10,745.84. The S&P 500 index stepped back 0.82 points to 1,165.39, while the Nasdaq composite slipped 1.76 points to 2,387.33.
Stocks closed higher Wednesday, with all three major indexes ending at an 18-month high, after U.S. and Japanese central banks moved to hold interest rates at historic lows, raising optimism about the economic recovery.
Wednesday's advance was also fueled by the Senate's passage of a $17-billion-U.S. jobs bill, which President Obama is expected to sign into law Thursday.
Stocks have been moving higher over the last few weeks, with the Dow and S&P 500 rising in 14 of the last 15 sessions and the Nasdaq rising in 13 of the last 15 sessions through Wednesday's close.
But renewed concerns over Greek debt may stall the recent climb. Reports cite an official from the debt-ridden country as saying that Greece may have to turn to the International Monetary Fund for financial help amid doubts it will receive a bailout from the European Union.
Investors will take in reports on inflation, jobless claims and a regional manufacturing index.
The Consumer Price Index (CPI) was unchanged in February after climbing 0.2% the month before, according to the Labor Deparment. A consensus of economists surveyed by Briefing.com had expected the CPI to edge up 0.1%. The so-called core CPI, which excludes food and energy prices, increased 0.1% after falling 0.1% in January. That was in line with expectations.
The government also reported that the number of Americans filing initial claims for jobless benefits fell last week to 457,000 from 462,000 the week before. Forecasts had called for a decline to 455,000.
After the market opens, the Conference Board will have released its February report on leading economic indicators. The measure is expected to have risen 0.1%, following a 0.3% increase in January.
The Philadelphia Fed index, a regional reading of manufacturing activity, is forecast to have edged up to 18 in March from 17.6 last month.
FedEx reported a profit of $239 million U.S. for the third fiscal quarter, more than double the amount it earned a year earlier. The company beat Wall Street estimates with earnings per share of 76 cents U.S., up from 31 cents U.S. a year earlier. Economists polled by Thomson Financial forecast earnings of 72 cents U.S. per share.
After the closing bell, smart phone maker Palm is due to report. Analysts expect the company to report a loss of 42 cents U.S. per share, compared with a loss of 86 cents U.S. in the prior year.
Treasury prices were little changed, with the yield on the 10-year note at 3.65%, roughly where it stood late Tuesday. Treasury prices and yields move in opposite directions.
The price of a barrel of oil stumbled 42 cents to $82.51 U.S.
Gold prices prospered a dollar to $1,125 U.S.
