North American markets are likely to stall Friday morning, as traders digest data showing a moderate rise in consumer prices.

Higher prices for automobiles and gasoline pushed Canada’s annual inflation rate to 2.4% in November, Statistics Canada said today, up slightly from October’s rate of 2.3%.

The core annual inflation rate rose by 1.6% in November 2004, slightly more than the 1.4% recorded in October 2004.

South of the border, U.S. consumer prices rose 0.2% in November as food and gasoline prices declined. Average weekly earnings adjusted for inflation declined for the second month in a row.

Toronto stocks closed higher Thursday, marking the fourth straight day of gains. The S&P/TSX composite index rose 10.48 points, or 0.12%, to close at 9,116.64. Volume was light as a holiday trading pattern emerged.

Glamis Gold announced a US$3.4 billion takeover bid for Goldcorp, but only if Goldcorp drops its $2.4 billion offer for Wheaton River Minerals, made in early December.

Goldcorp shares jumped $1.65 to $18.75. Glamis shares lost $1.67 to $21.83 while Wheaton River shed 7¢ to $4.00.

The junior S&P/TSX Venture composite index gained 3.88 points to finish at 1,726.97.

In New York, news of the Symantec-Veritas merger weighed on the Nasdaq composite index. The tech-heavy Nasdaq finished down 16.40 points, or 0.76 %, at 2,146.15.

Blue-chip stocks got a boost from gains in Johnson & Johnson after its move to buy Guidant. The Dow Jones industrial average, which fell late in the afternoon, ended up 14.19 points, or 0.13%, to 10,705.64.

The broader S&P 500 dropped 2.51 points, or 0.21%, to 1,203.21.