Futures linked to the S&P/TSX Composite Index were little changed on Friday as investors weighed a fresh batch of corporate results alongside Canada's May GDP data. Fairfax Financial and Cameco both reported revenue ahead of expectations but fell short on earnings per share. Enbridge topped forecasts for second-quarter adjusted profit, while Imperial Oil posted earnings that exceeded estimates, with profit doubling on the back of higher crude prices and stronger refining margins.
On the macroeconomic front, Canada's economy grew 0.3% in May, marking a second consecutive monthly expansion and coming in slightly above the 0.2% consensus. The data support the Bank of Canada's view that the economy is gradually adapting to recent shocks. Elsewhere in markets, gold prices declined as a stronger US dollar pressured mining stocks. Oil prices extended their advance, offering support to energy shares but stoking renewed concerns about inflation.
