Canadian stock index futures edged up as markets awaited a possible steer on interest rates after the release of third-quarter growth data later in the day.
The S&P/TSX Composite progressed 26.19 points to end Thursday at 14,833.75
The Canadian dollar faded 0.03 cents to 74.67 cents U.S. early Friday.
Bank of Montreal announced changes to its management team with Darryl White appointed chief operating officer, replacing Frank Techar who becomes vice-chair. The changes will take effect on Nov. 1.
Chinese state-owned miners considering buying into Barrick Gold’s operations in Argentina would take on assets that are under regulatory scrutiny and entangled in lawsuits and investigations. China's Zijin Mining Group Co and Shandong Gold Mining Co have held separate talks to buy a 50% stake in the Veladero gold mine, one of Barrick's core mines, sources told the media this week.
CIBC cut the target price on Calfrac Well Services to $4.25 from $4.50, after the company posted negative operating margins in the U.S. and Latin America.
Canaccord Genuity cut the target price on Eldorado Gold to $6.00 from $6.25, considering the political risk overhang and possibly investor fatigue.
Berenberg raised the target price on Lundin Mining to $5.10 from $5.00, to reflect the company’s improved operating cost control and better commodity price environment.
CIBC raised the target price on Teck Resources to $33.00 from $31.00, after the company’s revenue beat expectations, mostly attributable to outperformance in the coal business.
ON BAYSTREET
The TSX Venture Exchange drooped 0.2 points Thursday to 775.19
ON WALLSTREET
U.S. stock index futures pointed to a slightly higher on Friday as investors digested another slew of corporate earnings and the all-important U.S. Gross Domestic Product figures.
Ahead of the opening bell, futures for the Dow Jones Industrials advanced 23 points, or 0.1%, to 18,105, while futures for the S&P 500 added 3.5 points, or 0.2%, to 2,127. NASDAQ futures picked up 9.75 points, or 0.2%, at 4,816.75
Earnings season has dominated the limelight this week on Wall Street, with some of the biggest U.S. companies reporting.
And Friday was no different, with ExxonMobil, MasterCard, The Hershey Company, Cabot Oil & Gas, Xerox, Calpine all reporting quarterly results, among others. Chevron also reported earnings.
Meantime, south of the line, third-quarter GDP data came in better than expected at a 2.9% rate, According to a survey of economists, the consensus forecast for GDP is expected to have increased at a 2.5% annual rate.
The latest consumer sentiment figures are due out at 10 a.m. ET.
European stocks were under pressure, while Asia-Pacific indexes mostly ended mixed to lower overnight. In the previous session, U.S. stocks also closed in the red.
Oil prices diminished 33 cents to $49.39 U.S. a barrel
Gold prices slipped $3.50 to $1,266.00 U.S. an ounce.
