TSX May Pull Back From Record Highs -- Canadian Commentary

(RTTNews) - Canadian stocks are headed for a slightly weaker opening Friday, tracking lower European markets and on lingering concerns about the situation in Ukraine.

Data from the U.S. Commerce Department showing a better than expected rise in durable goods orders may aid sentiment.

Meanwhile, the unrest in Ukraine continues with reports saying that shells fired by Ukrainian forces hit Russian territory Friday. Ukraine has alleged that Russia is planning to deliver powerful rocket launchers to separatist forces in Ukraine.

Investors will be looking ahead for the next batch of Canadian and U.S. earnings reports.

The S&P/TSX Composite Index closed at 15,394.45, up 0.07 points, on Thursday, after scaling a record intraday high of 15,421.39.

EnerCare Inc. (ECI.TO) will be in focus after British electricity supplier Centrica plc (CNA.L) Friday said its North American unit Direct Energy agreed to sell its Ontario home services business to EnerCare, for C$550 million.

Canfor Corporation (CFP.TO) reported second quarter net income of $54.3 million, or $0.39 per share, compared to $45.5 million, or $0.33 per share, for the first quarter of 2014 and $110.3 million, or $0.77 per share, for the second quarter of 2013.

MDC Partners Inc. (MDZ.A.TO) reported second quarter net income of $16.5 million, up 67.8 percent from net income of $9.8 million in the previous corresponding quarter.

In commodities, crude oil futures for September are down $0.40 or 0.40 percent at $101.67 a barrel.

Natural gas for August is down $0.036 or 0.93 at $3.813 per million btu.

Gold futures for August are up $4.70 or 0.36 percent at $1,295.50 an ounce.

Silver for September is up $0.113 or 0.55 percent at $20.528 an ounce. Meanwhile, copper is down marginally at $3.264 per pound.

In economic news from the U.S., orders for durable goods were up 0.7 percent in June, the Commerce Department said. Economists expected durable goods order growth of 0.5 percent month-over-month. Excluding transportation, orders rose 0.8 percent in June, beating expectations for a 0.7 percent increase.