TORONTO (Reuters) - The Toronto Stock Exchange's main index looked set to push ahead at the opening bell on Friday, moving closer to its record high, while the price of crude continued its red-hot advance.
The composite could also take strength from Thursday's momentum after it gained nearly 2 percent, putting it in sight of the record high of 14,646.82 that was reached last July.
"We're getting not too far away from the previous high," said Joe Ismail, technical analyst at Maison Placements Canada. "We probably have a tailwind from yesterday, so I would expect probably a strong opening."
A new record high over $125 a barrel for oil could give a boost to the heavyweight energy group, which often takes a cue from the underlying commodity's direction.
The financial sector could come under some pressure after
insurer American International Group
"The financial (sector) has a very small period of sideways motion more than anything else," he said.
In a fresh round of quarterly results, Air Canada's parent
company ACE Aviation Holdings
Manitoba Telecom Services
Loyalty program operator Aeroplan Income Fund
U.S. stock futures were pointing lower while overseas markets also moved down after the larger-than-expected loss for AIG.
The Toronto index starts the day at 14,607.99.
(Reporting by Leah Schnurr; editing by Renato Andrade)
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