RTTNews - Bay Street stocks will look to recover some of yesterday's sharp losses in early trading on Friday morning. Trading could be light as U.S. traders prepare for a three-day Memorial Day weekend.
Oil prices moved back into the green in electronic trading, which could provide a boost for energy stocks. Light sweet crude added 82 cents to $61.87 after dipping below $60 overnight.
Metals are also higher with gold adding $5.70 to $956.90 and copper climbing 5.85 cents to $2.1095.
In corporate news, Computer Modelling Group (CMG.TO) reported fourth quarter net earnings of C$6.1 million or C$0.35 per share, up from C$3.0 million or C$0.18 per share for the comparable period last year.
North American gold producer Yukon-Nevada Gold Corp. (YNG.TO) said it has appointed Robert Baldock as its president and chief executive officer. Graham Dickson, who was director, interim chairman, president and chief executive officer, was appointed as chief operating officer.
In economic news, Statistics Canada reported retail sales increased for the third consecutive month in March, rising 0.3% in current dollars to $33.9 billion. In volume terms, retail sales rose 0.7% in the month.
On Thursday, the S&P/TSX Composite Index lost 282.85 points or 2.76% to settle at 9,949.59. Wednesday, the index hit a multi-month intraday high above 10,300.
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