TSX Flat At Open Friday

(RTTNews) - Bay Street stocks edged up at open Friday amid buying in energy stocks, with the S&P/TSX Composite Index adding 15.21 points or 0.12 percent to 12,508.47.

In the oil patch, Pacific Rubiales Energy (PRE.TO) and Niko Resources (NKO.TO) rose close to 2 percent each, while Suncor Energy (SU.TO) was adding about 1 percent.

Financial services provider Scotiabank (BNS.TO) edged up 0.50 percent after it said it has withdrawn its application to buy a 19.99 percent stake in the Bank of Guangzhou, announced in September of 2011.

Bio pharmaceutical company Medicago Inc. (MDG.TO) surged over 20 percent to C$1.15 after it said it would be acquired by Mitsubishi Tanabe Pharma Corp. or MTPC for C$1.16 cash per share.

Meanwhile, Specialty and packaging papers company Domtar Corp. (UFS.TO)lost close to 4 percent after announcing that it expects second-quarter sales to be $1.312 billion and estimates the operating loss to be between $30 million and $35 million.