Bay Street Poised For Quiet Start

(RTTNews) - Canadian stocks are likely to stay a bit sluggish Friday morning, tracking somewhat subdued European markets.

With the U.S. markets closed for Independence Day and no market moving economic data due for the day, investors will be looking for Canadian corporate news for some direction.

Weaker crude oil prices amid easing concerns over supply disruptions from Iraq and Libya could weigh on energy stocks.

Sluggish bullion prices may prompt investors to refrain from indulging in any big buying in gold stocks.

On Thursday, the S&P/TSX Composite Index closed down 2.68 points or 0.02 percent at 15,207.11, snapping a five-day winning streak. The index scaled an all-time intraday high of 15,256.36 in the session.

BlackBerry Ltd. (BB.TO), agreed Thursday to sell its research and development facility in Germany to Volkswagen Infotainment, a newly founded subsidiary of Volkswagen that develops automobile connectivity and infotainment technology. The financial details of the transaction were not disclosed.

TransForce Inc. (TFI.TO) announced that its wholly-owned subsidiary has completed the acquisition of the entire share capital of Transport America, Inc., an important provider of truckload carriage and logistics services.

Valeant Pharmaceuticals International Inc. (VRX.TO) will be in focus following Bausch & Lomb recalling about 850,000 tubes of Muro 128, an eye-care ointment as some of the ointment tubes contained tiny crystal particles that could injure the cornea.

Enghouse Systems Limited (ESL.TO) announced Friday that it acquired Basset AB for a purchase price of about C$10.0 million, subject to certain price adjustments.

In electronic trading on the New York Mercantile Exchange, crude oil futures for August are down $0.36 or 0.35 percent at $103.70 a barrel.

Gold for August is up marginally at $1,321.50 an ounce, with a stronger greenback capping its gains.

Silver for September is up $0.045 or 0.21 percent at $21.182 an ounce, while copper is down $0.015 or 0.44 percent at $3.265 per pound.

In economic news from the eurozone, German factory orders declined by a more-than-expected 1.7 percent in May as both domestic and foreign orders decreased from April on geopolitical uncertainties. Economists had forecast a 1.1 percent fall in new orders, after a revised 3.4 percent increase in April.