Positive Start Seen For Canadian Stocks

(RTTNews) - Canadian stocks may edge up a bit in early trades Friday morning with some encouraging earnings announcements and firm commodity prices aiding sentiment.

Investors will also be reacting to the data showing a 41,000 jobs drop in Canadian employment in the month of July. Data from Statistics Canada also showed that the unemployment rate in Canada came in unchanged at 6.9%.

Sun Life Financial (SLF.TO) reported earnings per share of $1.79 for the second quarter of this year, compared with $1.72 a year ago.

Power Corporation of Canada (POW.TO)'s EPS for the second quarter came in at $1.38, up compared to prior year's $1.17.

Saputo (SAP.TO) reported EPS of $0.44 for first quarter of current fiscal year, compared to $0.39 a year ago.

B2Gold Corp (BTO.TO) said it earned $0.12 per share in the second quarter of this financial year, compared to $0.06 in the year-ago quarter.

Cargojet (CJT.TO) posted EPS of $1.02 in the second quarter, as against -$0.05 in the year-ago quarter.

Emera Inc. (EMA.TO) said it posted earnings per share of $0.79 in the second quarter, compared to $0.53 a year earlier.

Dentalcorp Holdings Ltd. (DNTL.TO) reported that its second quarter net income was C$0.9 million compared to a loss of C$11.9 million in the prior year. Adjusted net income for the quarter increased to C$30.7 million from C$26.4 million in the prior year.

Boralex Inc. (BLX.TO) announced Friday that Bruno Guilmette, Executive Vice President and Chief Financial Officer, has chosen to take on new challenges by accepting a new professional opportunity, after nearly seven years with the Company. He will remain as CFO until September 12, 2025, to ensure a smooth transition.

The Canadian market ended weak on Thursday as investors resorted to profit-taking after recent gains, and also gauged the impact of high US tariffs taking effect on Canada's businesses.

The benchmark S&P/TSX Composite Index, which languished in negative territory for much of the day's trading session, settled at 27,761.27, down by 159.60 points or 0.57%.

Asian stocks ended mostly lower in cautious trading on Friday as U.S. President Donald Trump's reciprocal tariffs targeting more than 90 nations came into force just after midnight.

Trump said in a post on Truth Social that billions of dollars would soon start flowing into the United States, unless blocked by what he called a "radical left court" determined to see America fail.

Japanese shares bucked the regional trend after the country's chief trade negotiator said the U.S. agreed to end so-called stacking on universal tariffs and cut car levies at the same time.

European stocks are turning in a mixed performance with investors mostly making cautious moves, digesting latest earnings updates, and assessing the potential econmic impact of Trump's reciprocal tariffs on major trading partners.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.23 or 0.36% at 64.11 a barrel.

Gold futures are gaining $33.50 or 0.97% at $3,487.20 an ounce, while Silver futures are gaining $0.341 or 0.89% at $38.635 an ounce.