Canadian stocks may edge up at open Friday amid mixed commodities and varied cues from the global equity markets. While most Asian markets ended higher overnight, European shares were struggling to hold on to their recent gains even as Greece continuing its negotiations with its private creditors.
U.S. stock futures were pointing to a marginally higher open.
On Thursday, the S&P/TSX Composite Index shed 74.89 points or 0.60 percent to 12,464.32.
The price of crude oil was steady above $100, with crude for March adding $0.37 to $100.07 a barrel.
The price of gold was ticking lower Friday morning after gaining nearly 4 percent in the past two sessions. Gold for February edged down $4.10 to $1,722.60 an ounce.
In corporate news from Canada, electronics products company Celestica Inc.(CLS.TO) reported that its fourth quarter IFRS net earnings rose to $69.2 million or $0.32 per share, from $38.4 million or $0.17 per share last year. Adjusted net earnings were $71.1 million or $0.33 per share, compared to $61.3 million or $0.27 per share for the same period last year. Analysts were expecting the company to report earnings of $0.25 per share. For the first quarter, the company guides revenue to be in the range of $1.6 billion to $1.7 billion and adjusted net earnings per share to be in the range of $0.18 to $0.24. Analysts expect the company to report earnings of $0.23 per share for the next quarter.
CIBC (CM.TO) reported fiscal 2011 net income of C$2.87 billion, or C$6.71 per share under IRFS standard. Adjusted earnings were restated as C$7.57 per share.
In what could be a positive news for the ailing smart phone maker Research In Motion (RIM.TO), V. Prem Watsa - who has been appointed to the board this week - raised his stake in the company to 5.12 percent from the earlier 2.25 percent to become the fourth-largest shareholder in the company. Watsa, who heads Fairfax Financial Holdings Ltd, is well known for his turnaround capabilities .
In economic news from south of the border, the U.S. Commerce Department said the economy grew at 2.8 percent the final quarter of 2011, up from the 1.8 percent growth posted for the third quarter. But the growth fell short of the 3.1 percent projected by most economists in what may be a sign that economic recovery is still stagnant.
From the euro zone, Germany's import price inflation eased sharply and for a third consecutive month in December, data from the Federal Statistical Office showed. Inflation eased to 3.9 percent in December from 6 percent in November and 6.8 percent in October. Economists expected the rate to be 3.8 percent.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.