Canada's benchmark index jumped higher at the start of trading on Friday, after EnCana Corp. re-announced plans to split the company into two parts - a move that investors seem to like.

The S&P/TSX composite index rose 70 points or 0.6 per cent, to 11,225.

EnCana rose 6.4 per cent after it said that its natural gas and oil production divisions would be hived off into separate companies, in a move that is intended to unlock value in the shares.

Other energy stocks were also on the move. Suncor Energy Inc. rose 1.5 per cent and Talisman Energy Inc. rose 1.8 per cent.

In the United States, the Dow Jones industrial average fell 5 points or less than 0.1 per cent, to 9623. The broader S&P 500 rose 2 points or 0.2 per cent, to 1046.

Commodity producers were strong, with Alcoa Inc. up 1.2 per cent and Chevron Corp. up 0.6 per cent.

As well, FedEx Corp. rose 5.5 per cent after the package delivery company raised its guidance for its fiscal first quarter earnings.

However, Coca-Cola Co fell 0.8 per cent, Home Depot Inc. fell 0.6 per cent and Bank of America Corp. fell 0.5 per cent.