RTTNews - Toronto stocks could give back some of the recent rally in early Friday trading as commodity prices are down across the board. Bay Street's main index finished the previous session at an eight-month high.
Crude oil has lost $1.61 to $71.07 per barrel in electronic trading, while gold has dropped $22.90 to $939.10 an ounce and copper has slipped 6.8 cents to $2.37 per pound.
In corporate news, Patheon (PTI.TO) reported that its second quarter loss was US$3.2 million or US$0.035 per share, compared to a loss of US$8.0 million or US$0.088 a share last year.
Cascades Inc. (CAS.TO: News ) announced that it has reached an agreement with Atlantic Packaging Products Ltd. to acquire its tissue business for about C$60 million.
COM DEV International (CDV) reported net income for the second quarter of C$4.9 million or C$0.07 per share, compared to C$2.0 million or C$0.03 per share in the year-ago quarter.
Brick Brewing (BRB.TO) reportedly agreed to changed the label on its Red Baron beer to settle a copyright and trademark dispute with Labatt Brewing Co.
Across the border, a Labor Department report showed that import prices rose 1.3 percent in May following a revised 1.1 percent increase in April. The continued increase in prices was largely due to an 8.3 percent increase in petroleum import prices.
Additionally, the Labor Department said that export prices rose 0.6 percent in May after edging up 0.4 percent in the previous month. A 3.6 percent increase in the prices of agricultural exports contributed to the moderate increase.
On Thursday, the S&P/TSX Composite Index gained 116.13 points or 1.09% to settle at 10,714.11. This marked the best finish since October 3.
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