Before the Bell: Markets mostly up but caution prevails

Global markets are mostly up on Friday with positive U.S. economic data released yesterday elevating traders' hopes but less-than-stellar economic data from the Eurozone and concerns over oil prices is sending mixed signals.

Market sentiment was also encouraged to see that Greece is likely to receive the €130 billion (US$173 billion) bailout it needs to avoid bankruptcy.

The benchmark Stoxx Europe 600 Index was up 0.1 per cent at 267.39. London's FTSE 100 Index was flat at 5925.32, Paris's CAC 40 Index was flat at 3501.06 and Frankfurt's DAX was down 0.2 per cent at 6929.86. The euro currency is currently fetching US$1.3252.

Asian bourses were lifted by U.S. data and word that Europe's finance ministers have agreed to measures linked to Greek debt restructuring. Japan's Nikkei 225 Stock Average rose 0.7 per cent, Australia's S&P/ASX 200 advanced 0.4 per cent, South Korea's Kospi climbed 0.2 per cent while Hong Kong's Hang Seng Index rose 0.8 per cent. China's Shanghai Composite was up 1.4 per cent.

On Wall Street, U.S. futures are pointing to a lower open. Futures on the Dow Jones Industrial Average slipped 20 points to 12953. S&P 500 Index futures edged down three points to 1371.50, while Nasdaq 100 futures lost 4.25 points to 2639. There's no major data scheduled for release on the U.S. economic calendar on Friday.

Here at home, Canada's benchmark S&P/TSX Composite Index closed Thursday at 12,723.46, a gain of 79.45 points, or 0.63 per cent, thanks to strong bank earnings from RBC and TD Canada Trust. Canada's Junior Venture exchange gained 16.90 points, or 1.01 per cent, to 1,688.48. The Canadian dollar is trading at US$1.0143.