(RTTNews) - Toronto stocks may witness a lackluster session Friday amid a mixed bag of earnings reports from Canadian companies and GDP data from both sides of the border.

Cues from the global equity markets were also not encouraging, with stocks in Asia and Europe dipping on economic worries.

While the Canadian economy stalled for a second month in May, U.S. economic activity increased at a slightly slower than expected pace in the second quarter.

U.S stock futures were pointing to a lower open as traders digest the just released U.S. GDP data. Yesterday, U.S. equities erased early gains to end lower on comments from St. Louis Federal Reserve Bank President James Bullard.

On Thursday, the S&P/TSX Composite Index edged up 32 points or 0.27% to 11,728.64.

The price of crude oil slipped further after the release of U.S. Gross Domestic Product data. Crude for September was down $0.73 to $77.63 a barrel.

Meanwhile, the price of gold was recovering for a third session, after falling to a 3-month low Tuesday. Gold for August was up $4.30 to $1,172.70 an ounce.

In corporate news from Canada, gold mining company Centerra Gold (CG.TO) swung to profit in second quarter, reporting net earnings of $0.13 per common share compared with a loss of $0.36 per common share last year. The company declared a maiden dividend of C$0.06 per common share payable on September 8, 2010 to shareholders of record on August 18, 2010.

Energy pipeline company TransCanada Corp. (TRP.TO) reported lower second quarter net income of C$0.41 per share compared to C$0.50 per share in the same quarter last year. Analysts were expecting the company to report net income of C$0.44 per share this quarter. The company has declared a quarterly dividend of C$0.40 per common share for the quarter.

Insurance services provider Fairfax Financial Holdings (FFH.TO) announced second-quarter net earnings of $15.49 per share, compared to net earnings of $15.56 per share in the year ago quarter.

Wood products company Canfor Corp. (CFP.TO) posted a marginal increase in second-quarter net income at $0.13 per share, compared with $0.11 per share in the prior year period.

Specialty paper products company Catalyst Paper (CTL.TO) reported a wider second quarter net loss of C$0.96 per share, compared to a net loss of C$0.01 per share in the year-ago quarter. The net loss before specific items was C$0.11 per share, compared to a net loss of C$0.06 per share in the previous quarter.

Building products maker PFB Corp. (PFB.TO) Thursday reported a sharp decline in second quarter net income at $0.04 per basic share compared to $0.30 per basic share last year. Nonetheless, the company declared a regular quarterly dividend of $0.06 per share.

In economic news, Statistics Canada said Real Gross Domestic Product in the nation increased by 0.1% in May, after being unchanged in April. Economists were looking for economic activity to rise 0.2%.Goods producing industries rose 0.6%, led by oil and gas extractions and manufacturing activity edged up. Meanwhile, construction and utilities fell back, the agency said.

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