Canadian shares are likely to open on a mixed note Friday morning, tracking commodity prices and U.S. inflation data.
Activity is likely to remain somewhat stock specific with earnings announcements and other corporate news providing some direction.
The Canadian market ended modestly higher on Thursday, reacting positively to the latest batch of economic data. Continued optimism about global economic recovery contributed as well to market's rise. The benchmark S&P/TSX Composite Index ended with a gain of 50.73 points or 0.25% at 20,215.12.
Akumin Inc. (AKU.TO) announced Friday that it has entered into an agreement to acquire Alliance HealthCare Services, Inc., a provider of radiology and oncology solutions to hospitals, health systems and physician groups. The transaction has an enterprise value of $820 million.
BlackBerry Ltd. (BB.TO) reported on Thursday that it posted a loss of $62 million or 11 cents per share in its fiscal first quarter.
Asian stocks ended higher on Friday with markets continuing to benefit from recent comments from U.S. government and Fed officials on the expected decline in inflation by the year-end and the assurance of no hurrying on interest rate increases.
European stocks are turning in a mixed performance amid somewhat volatile movements with investors weighing recent comments from Fed officials on inflation and possibility of rate hikes, and looking ahead to U.S. inflation data.
In commodities, West Texas Intermediate Crude oil futures are down $0.11 or 0.14% at $73.19 a barrel.
Gold futures are gaining $8.60 or 0.48% at $1,785.30 an ounce, while Silver futures are up $0.200 or 0.77% at $26.250 an ounce.
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