Stocks are poised for a slide at Friday’s open, driven by concerns about tech stock profits. Names such as Brocade Communications, Novell, PeopleSoft and Siebel Systems are all down.

In economic news, Canada’s retail trade numbers are out. Consumer spending in retail stores fell 0.5% in September, after advancing 0.4% in August. Retail sales have remained essentially flat since June, fluctuating between $25.6 billion and $25.7 billion. Despite little change in recent months, retailers managed to post a 0.7% sales gain in the third quarter compared with the second quarter, when sales rose 0.8%. These relatively weak quarterly sales gains follow strong increases of 2.6% in both the first quarter of 2002 and the fourth quarter of 2001.

Stocks are lower in Europe this morning following reports of weak GDP numbers in France. Traders speculate that this might increase the chance of rate cuts there. Corporate news isn’t helping either. Belgian financial giant, Fortis, reported a record US$1.7 billion quarterly loss. The FTSE is down 10 points to 4,180. The CAC 40 has dropped nine points to 3,281. And, the DAX is down five ticks at 3,299.

Overnight in Asia, stocks closed the week on a high note. The Nikkei added 105 points to finish at 8,773. And, the Hang Seng gained 62 points to 10,065.

In financing news, BC Gas Inc. announced it has entered into an agreement with a syndicate of underwriters led by RBC Dominion Securities Inc. and Scotia Capital Inc. for a common share offering totaling $201.4 million. Separately, the firm has entered into an agreement with a Canadian institutional investor for the sale of 2,631,600 common shares for aggregate gross proceeds of approximately $100 million by way of a private placement. The net proceeds of the offering and the private placement will be used to fund the company’s $198 million acquisition of a one-third interest in the Express Pipeline System from EnCana Corp. Proceeds of the offering will also be used to repay indebtedness in Corridor Pipeline Limited, a subsidiary of the Company, and for general corporate purposes.

In M&A news, Alcan Inc.announced that it has reached a non-binding agreement in principle with Norsk Hydro to purchase VAW Packaging (FlexPac) for approximately 345 million euros.

And, Kensington Energy Ltd. has closed a $2.3 million natural gas property acquisition in central Alberta. The transaction was funded with the corporation’s cash reserves and a portion of its existing line of credit.