Stocks in Toronto were modestly higher Friday morning with energy and health-care shares pulling back amid cautious trading ahead of Sunday's referendum in Greece on whether to accept bailout terms.
Investors are awaiting the outcome of a weekend referendum on whether to accept tough conditions in exchange for a bailout deal for the Mediterranean country's troubled economy. The government says a ''No'' vote will put it in a better bargaining position for new terms, while European officials and the opposition say a rejection could lead to Greece's exit from the euro and Europe.
The S&P/TSX composite index was up 11.29 points at 14,671.49.
Auto sales in Canada continued to grow in June, up 1.2 % to 177,857 vehicles, according to DesRosiers Automotive Reports. Sales of light trucks continue to climb, up 11.5 % from last year to 109,400, while car sales fell by 11.7 % to 68,457.
Bombardier Transportation (TSX:BBD.B) has signed two contracts with Transport for London worth US$558 million to build and maintain another 45 four-car electric multiple train units.
The first contract covers the design and manufacture of 180 new vehicles and the second is a 35-year agreement providing maintenance for the new vehicles. The contracts include an option for up to 24 additional trains and another to extend the maintenance support for five years.
The loonie traded at 79.42 cents US, down 0.29 of a U.S. cent from Thursday's close.
ON BAYSTREET
The TSX Venture Exchange was down 0.09 points to 671.58.
Eight of the 14 TSX subgroups were higher this morning -- materials were ahead 0.69 percent, gold stocks were up 0.69% and mining issues improved 0.48%.
On the downside -- health-care stocks were down 0.28, energy issues dipped 0.27% and real-estate stocks shed 0.21%.
In commodity news -- the August crude contract was down 39 cents at US$56.54 a barrel while the August gold contract was up $2.20 to US$1,165.70 an ounce.
ON WALLSTREET
U.S. financial markets are closed in observance of the July 4th Independence Day holiday.
