(RTTNews) - Canadian stocks are likely to edge up at open Friday amid recovery in the price of oil and on continued surge in the price of gold.
Also, encouraging retail sales from the U.S., Canada's largest trading partner, and hopes that Greece may soon get help to overcome its debt situation will support sentiment
However, the just released Canadian jobs data, which revealed the economy added jobs for the ninth straight month, may fuel speculation that the Bank of Canada will begin tightening its policy.
U.S. stock futures also point to a higher opening.
On Thursday, the S&P/TSX Composite Index ended flat, adding a marginal 2.63 points or 0.02% to 12,113.53, after dipping below the 12,000-mark in early trading.
The price of oil edged up in morning deals, recovering from its 2 day losses. Crude for May was up $0.61 to $86, yet a shade below its 18-month high hit earlier this week.
The price of gold continued to move higher throughout the week, adding $3.90 to $1,156.80 an ounce.
Meanwhile, the Canadian dollar retreated from parity with its U.S. counterpart, amid jobs report.
In corporate news, Shaw Communications (SJR_B.TO) reported lower second quarter net income of C$0.32 per share, compared to C$0.36 in the year ago period.
Oil and gas company Rock Energy (RE.TO) announced the promotion of John Van de Pol to President and CFO. John joined Rock in April 2009 after a 15 year career with Northrock Resources where he held the position of Senior Vice President and CFO.
ForceLogix Technologies (FLT.V) said Callidus Software (CALD) has bought a further over 2 million of its common shares at C$0.075 per share, taking the total stake to 12.1%.
Wireless communications services provider Redline Communications Group (RDL.TO) said that the Ontario Securities Commission and the Autorité Des Marchés Financiers or AMF issued a temporary management cease trade order, which prohibits trading in securities of the company by certain insiders of the company.
Mountain resorts operator Melco China Resorts (Holding) (MCG.V) said it privately placed 100 million shares with Wisecord Holdings Ltd for C$15 million.
In brokerage update, UBS trimmed its rating on Telus Corp (T.TO) to a 'Neutral' from 'Buy' on valuations.
In economic news, Statistics Canada said Canadian unemployment edged up by 18,000 in March, continuing an upward trend that began in July 2009. Economists were predicting the economy would add 25,000 jobs. The unemployment rate remained unchanged at 8.2%.
