RTTNews - Canadian stocks could see little direction in early trading on Monday morning after experiencing notable strength over the last two weeks. U.S. futures are mixed, while commodities are lingering near the flat-line, contributing to uncertainty on Bay Street.
Oil prices are up slightly, rising 12 cents to $68.17 per barrel. Gold is up $3.70 to $956.80 an ounce and copper is up 2.5 cents to $2.574.
Addax Petroleum (AXC.TO) announced financial results for the second quarter, posting net income of US$38 million or US$0.24 per share, compared to US$293 million or US$1.83 per share in the prior year period.
In other corporate news, Nortel Networks (NT.TO) agreed to sell its wireless network to Stockholm- based Ericsson for $1.13 billion.
Cott Corp. (BCB.TO) announced that its second-quarter net income attributable to the company was US$33.7 million or US$0.48 per share, compared to a net loss of US$1.8 million or US$0.03 per share in the year ago quarter.
IMAX Corp. (IMX.TO) and VieShow Cinemas announced an agreement to open six additional IMAX theaters in Taiwan, following the strong results at its first IMAX location at the Sun VieShow Cinemas multiplex in the city of Taipei.
Across the border, Verizon Communications (VZ) reported second quarter net income attributable to Verizon of $1.48 billion or $0.52 per share, compared to $1.88 billion or $0.66 per share last year.
The S&P/TSX Composite Index added 12.22 points or 0.11% to end Friday's session at 10,687.90. The market finished higher for an eighth time in 10 sessions and rose more than 300 points on the week.
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