Stocks look to open mixed this morning, with earnings inn individual companies driving the trade rather than any big sector or market trends.

That said, techs are looking a little brighter on strength of Xilinx Inc. raising its sales forecast. Chip stocks look stronger as a result.

In Canada, a couple of heavyweights reported this morning. Rogers Communications Inc., the biggest cable company in Canada, reported that its fourth-quarter loss grew as it faced investment write downs and costly debt. The result was a $434 million loss, against a $141.4 million profit the year before.

Royal Bank reported that its first quarter generated net income of $734 million. Last year’s first quarter net income was $695 million, including gains from special items of $111 million after-tax.

Also, Rothmans Inc. reported increased earnings for the third quarter of fiscal 2002. Earnings increased to $24.6 million from $18.9 million in the same period of last year.

In Europe however, stocks are weaker. European telecoms are leading the way down after Deutsche Telekom AG threw cold water on plans to sell its cable division. Also, Goldman cut its rating on Vodafone Group plc. And, the French economy contracted in the fourth quarter, the first shrinkage it’s had in five years.

The FTSE is down 50 points to 5,022. The CAC 40 is off by 47 points to 4,240. The DAX is off by 93 points to 4,757.

Overnight in Asia, stocks closed mixed for the week. The Nikkei gained another 61 points to 10,357. The Hang Seng shed 124 points to 10,665.

In M&A news, Northrop Grumman Corp. is making a hostile offer to acquire TRW Inc. for US$47 a share in stock.

Rio Alto says that expected cash flow from operations is approximately $690 million for 2001, in line with previous guidance provided.