(RTTNews) - Bay Street stocks may open lower Friday amid falling commodities prices and mixed flow of jobs data from both sides of the border. Also, renewed worries over the euro zone debt situation may weigh on the sentiment.
While Canada added more jobs than expected in May, report from south of the border was not encouraging.
U.S. stock futures were pointing to a lower open
On Thursday, the S&P/TSX Composite Index added 31.21 points or 0.26% to 11,811.87.
The price of crude oil edged down $0.39 to $74.22 a barrel, after rising in the past two sessions.
The price of gold moved down for a third session, amid a recovering dollar. Gold for August was down $4.7 to $1,205.30 an ounce.
In corporate news, airlines services provider Air Canada (AC_B.TO) said its system traffic increased 9.7% to 4.2 billion revenue passenger miles in May from a year-ago period. Capacity increased 6.4% to 5.2 billion available seat miles system wide.
Precious metals explorer GlobeStar Mining (GMI.TO) announced record monthly gold production at the Cerro de Maimon Mine in the Dominican Republic, with April and May production hitting as high as about 3.9 million pounds of copper, 3,700 ounces of gold and 110,000 ounces of silver.
Entrée Gold (ETG.TO) said it's shareholders have voted in favor of acquiring all of the issued shares and options of PacMag according to Australian Schemes of arrangement. As per the deal, each PacMag shareholder will receive about 0.102 Entree shares and C$0.041 or A$0.043 cash for each PacMag share.
Engineering and manufacturing company Reko International Group (REK.TO) slipped into the red, reporting third-quarter net loss of $0.36 per share, compared with a net income of $0.05 per share in the same quarter last year.
In economic news, Statistics Canada said the country added 25,000 jobs in May, recording fifth consecutive monthly increase. Economists were expecting 20,000 jobs creations in May. Meanwhile, the unemployment rate was unchanged at 8.1% in May, as against economists' expectations for 8%.
Meanwhile, building permits increased 5.4% to C$6.7 billion in April, mainly on gains in the non-residential sector, Statistics Canada said Friday morning. This follows a 12.3% advance in March. Consensus were pointing to a decline of 2% in April. On year-over-year basis, value of building permits jumped 48.2%.
From the U.S., the Labor Department said non-farm payroll employment increased by 431,000 jobs in May following an unrevised increase of 290,000 jobs in April. However, the job growth fell short of economist estimates for an increase of about 500,000 jobs. Additionally, the Labor Department said that the unemployment rate slipped to 9.7% in May from 9.9% in April. Economists were expecting the unemployment rate to edge down to 9.8%.
