North American stocks may rise at Friday’s open, helped by better-than-expected durable-goods data and merger activity ahead of the Christmas holiday.

North of the 49th parallel, Statistics Canada said the Canadian economy grew 0.2% in October after a pause in September, mostly because of a rebound in manufacturing output.

Strength in the goods producing sector was concentrated in manufacturing, notably the production of motor vehicles, which rose 9.4%, StatsCan said

The U.S. Commerce Department today reported that November durable-goods orders increased by 4.4% to a seasonally adjusted US$223.03 billion. Economists had called for a 1% advance in overall durable goods orders last month.

A final reading of U.s. December consumer sentiment, due later this morning, is expected to remain unchanged at 88.7.

U.S. new home sales data for November are forecast to be 1.31 million down from 1.42 million the previous month.

In M&A news Arcelor, the world’s second-largest steel maker by output, raised its hostile bid for Dofasco to $4.9 billion, or $63 a share, topping a friendly offer from Germany’s ThyssenKrupp.

Another major deal fell apart. A complex US$9.6 billion buyout of U.S. supermarket chaing Albertson’s collapsed last night as the grocery retailer’s board unanimously rejected the deal and several of its would-be buyers said all talks had been terminated.

Crude-oil prices declined 45¢ to US$57.83 a barrel in early trading Friday amid expectations of milder winter weather over the next few days.

The Canadian dollar opened at US85.66¢, down 0.03 of a cent.

In overseas trading, the London FTSE 100 broke through the 5,600 level for the first time in four years, while Seoul and Hong Kong shares rose. Japanese markets were closed for a holiday.

Most financial markets around the world will be closed Monday, Dec. 26, in observance of Christmas.

Canadian markets will also be closed Monday and Tuesday for the Christmas and Boxing Day holidays.


Toronto stocks edged forward Thursday, as a weaker energy sector largely offset a big merger of two mining giants and strong earnings news from Research in Motion.

The S&P/TSX composite index moved up 8.14, or 0.07%, to 11,255.39.

Barrick Gold Corp. and Placer Dome Inc. announced a $12.1 billion friendly merger. Also, as part of the deal, Goldcorp Inc. buys a number of Placer assets for US$1.49 billion.

Barrick shares fell 9¢, or 0.28%, to $31.66, Placer Dome fell 33¢, or 1.25%, to $26.07, and Goldcorp added $1.10, or 4.75%, to $24.25.

RIM reported sales of its BlackBerry products helped lift profit 33% and revenue 53%. Shares jumped up $7.41, or 10.22%, to $79.91.

The S&P/TSX Venture composite index finished up 21.58 points, or 1.01%, to 2,164.10.

In New York, good economic news boosted the market, though trading was light in the run up to the holidays.

The Dow Jones industrial average rose 55.71 points, or 0.51%, to 10,889.44, the S&P 500 index added 5.33, or 0.42%, to 1,268.12, and the Nasdaq composite index gained 14.83, or 0.66%, to 2,246.49.