eMediaWorld; Canadian Stocks Set For Early Gains

October 14, 2011 6:54 AM15 commentsViews: 39

eMediaWorld; Canadian Stocks Set For Early Gains

Canadian stocks look to get back on the winning track Friday morning, with tech giant Research in Motion still in focus after a long service outage for its BlackBerry smart phones.

Early indications show that Canadian stocks will follow other global markets modestly higher. The S&P/TSX Composite Index was down 118.89 points, or 0.98 percent, to 11,911.89 on Thursday.

Compton Petroleum Corp. Thursday announced the signing of a farmout and joint venture agreement between a wholly-owned subsidiary of Compton and K2 America Corp., a wholly owned subsidiary of Guardian Exploration, Inc. on its Montana Bakken property.

AuRico Gold Inc. Thursday reported 102 percent growth in revenues for the third quarter, in its preliminary results for the quarter. The company also reported increased production and operating cash flows.

Superior Plus Corp. announced the appointment of Luc Desjardins as President and Chief Executive Officer. Desjardins will assume the Chief Executive Officer responsibilities from Grant Billing who will continue as non-executive Chairman.

IMAX Corp. has entered into a joint revenue sharing agreement with TGV Cinemas Sdn Bhd to install a new digital IMAX theatre system at the Sunway Pyramid Shopping Centre in Malaysia, TGV’s highest-grossing multiplex.

Air Canada said that it has filed an unfair labour practice against the Canadian Union of Public Employees or CUPE, the union representing the airline’s 6,800 flight attendants.

Canadian manufacturing sales rose more than expected in August, boosted by gains in the aerospace industry, food and petroleum, official data showed Friday morning.

Statistics Canada said manufacturing sales rose 1.4 percent to C$47.6 billion in August, the highest level since October 2008.

Economists expected a modest increase of 0.4 percent, following the revised 3.1 percent jump seen in July.

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