North American markets look set to open mixed Friday as natural gas prices hit a record high.

Natural gas prices rose as a winter storm hit the northern United States and parts of Eastern Canada. Natural gas for January delivery reached a new intraday high of US$15.52 per 1,000 cubic feet in electronic Asian trading on the New York Mercantile Exchange before slipping back to US$15.351 per 1,000 cubic feet, up nearly 36¢.

The price of crude oil was also higher. Light sweet crude oil for January delivery surged 58¢ to US$61.24 a barrel in midday electronic trading in Europe.

Technology shares will likely come under pressure following after Intel Corp.’s disappointing mid-quarter update.

Intel shares dropped nearly 3% in extended-hours trading after the company gave a sales outlook that fell a shade below the average analysts’ estimates.

In today’s economic news, Statistics Canada said labour productivity in the Canadian business sector increased at its fastest pace in nearly four years during the third quarter.

Separately, the government agency reported that industries edged ever closer to a record high use of their production capacity in the third quarter, thanks to a rebound in exports.

Later today, the University of Michigan’s preliminary December consumer sentiment index is due for release.

As well, data on U.S. wholesale sales will be released.

The Canadian dollar opened Friday at US86.26¢, down 0.07 of a cent.

European stock marke indices dropped in early trading action.

Overnight, Japan’s benchmark Nikkei 225 index gained 220.69 points, or 1.45%, to finish at 15,404.05.

On Thursday, the Nikkei tumbled 1.95% after after a typing error caused Mizuho Securities Co. to lose at least 27 billion yen (US$225 million) on a stock trade;

Japan’s government rebuked the Tokyo Stock Exchange and one of the country’s biggest brokerage firms Friday.

In Hong Kong, the blue-chip Hang Seng Index rose 31.35 points, or 0.2%, to 14,910.51.

In business news, Constellation Brands Inc. says it will “move on” after its US$1 billion bid for Canadian winemaker Vincor International Inc. expired Thursday night.

CHC Helicopter Corp. said late Thursday, it has exercised an option to acquire a significant stake in Brazilian Helicopter Services.

German airline Deutsche Lufthansa AG has ordered 12 Bombardier CRJ900 jets for its regional carrier, Bombardier Aerospace announced after the close of financial markets Thursday.

The board of Pe Ben Oilfield Services Ltd. has unanimously recommended that shareholders accept a sweetened takeover bid of $12 a share by Mullen Group Income Fund, the fund said Thursday.

Toronto stocks ended higher Thursday, pulled ahead by a rise in resource stocks but weighed down somewhat by a negative day in the technology sectors.

The S&P/TSX composite index finished up 35.76, or 0.32%, to 11,167.19.


The S&P/TSX Venture Exchange index finished up 9.52, or 0.45%, to 2,130.16.

In New York, higher energy prices plus a report from Toll Brothers suggesting a downturn in the real estate market for 2006 put stocks in negative territory.

The Dow Jones industrial average fell 55.79, or 0.52 %, to 10,755.12, the S&P500 index fell 1.53, or 0.12%, to 1,255.84, and the Nasdaq composite index fell 5.56, or 0.25%, to 2,246.45.