RTTNews - Canadian stocks could see little direction at the open on Friday after rising in recent days. European stocks and U.S. futures are hovering near the unchanged mark, while commodities are seeing minimal strength.
Crude oil gained 18 cents to $70.70 in electronic trading, continuing its recent choppy movement. Gold has added $3.10 to again challenge $960 an ounce, while copper is flat at $2.91 per pound.
In corporate news, FNX Mining (FNX.TO) posted net earnings for the second quarter of C$12.5 million or C$0.14 per share, higher than C$11.3 million or C$0.13 per share in the prior year period.
Aurizon Mines Ltd. (ARZ.TO) announced that its second quarter net earnings of C$13.6 million or C$0.08 per share, compared to earnings of C$5.6 million or C$0.04 per share, in the same period of 2008.
Allied Nevada Gold Corp. (ANV.TO) announced a public offering of 11.15 million shares of common stock of the Company at a price of C$9.00 per share, for aggregate gross proceeds of approximately C$100.35 million.
Redline Communications Group Inc. (RDL.TO) reported a second quarter net loss of US$2.6 million or US$0.12 per share, compared to a loss of US$5.3 million or US$0.25 per share in the same quarter of last year.
Enterra Energy Trust (ENT_U.TO) reported second-quarter net loss of $14.38 million or $0.23 per unit, compared to a loss of $11.86 million or $0.19 per unit in the same quarter of last year.
In economic news, Canadian new motor vehicle sales fell 0.6% in June, compared to a 1% rise in May. Sales were expected to drop 1%. Meanwhile, manufacturing shipments were unexpectedly up 1.9% in June, compared to a 6% drop in the previous month. A 0.3% decline was forecast.
On Thursday, the S&P/TSX Composite climbed 165.69 points or 1.55% to settle at 10,825.56. The gain was the second straight for the index, which recovered losses from earlier in the week.
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