Toronto Markets to Rise With Oil Prices

Corus, Bombardier in Focus

Stock futures pointed to a higher opening for Canada's main stock index as oil prices rose, lifted by reports of Saudi reducing crude supplies to some of its Asian customers

The S&P/TSX Composite advanced 37.33 points to finish Tuesday’s session at 15,426.28

The Canadian dollar inched up 0.02 cents to 75.52 U.S. early Wednesday

Corus Entertainment reported a lower-than-expected quarterly profit for the 12th straight quarter, hurt by lower revenue at its television business on a pro-forma basis.

Bombardier and Alstom consortium has won a French train contract estimated to be worth 1.16 billion euros for the consortium. The contract will see the consortium - in which Alstom owns 70% and Bombardier 30%- work to supply commuter trains for the Paris region.

Brookfield Asset Management said it had submitted alternative proposals regarding its interest in buying bankrupt solar company
SunEdison Inc's "yieldco", TerraForm Power Inc. Brookfield said it would purchase all of TerraForm Power's outstanding shares for $11.50 in cash for a total consideration of $1.6 billion.

National Bank Financial cut the rating on Atlantic Power Corp to underperform from sector perform

CIBC cut the price target on Hudson's Bay Co. to $12.50 from $18.00, saying the company is part of a long list of department store chains that are struggling to deliver sales or earnings growth.

CIBC raised the price target on Trican Well Service to $5.75 from $3.75 on the expected price range of the Keane IPO.


The TSX Venture Exchange faded 0.27 points Tuesday to 794.04


U.S. stock index futures pointed to a flat open on Wednesday as traders await Donald Trump's first press conference as U.S. president-elect.

Ahead of the opening bell, futures for the Dow Jones Industrials dropped four points at 19,784. Futures for the S&P 500 fell 2.5 points, or 0.1%, to 2,261.25. NASDAQ futures slipped 1.75 points at 5,029.50

On the earnings front, MSC Industrial and Supervalu reported quarterly results before the bell. KB Homes is due to report after the market close.

There are no major economic data releases scheduled on Wednesday, though the President-elect's "general news" press conference from the Trump Tower lobby at 11 a.m. ET is likely to be closely scrutinized by investors.

European bourses gained some ground by noon on the continent, while in Asia, the Shanghai Composite in China closed 0.8% lower, while the Nikkei in Japan closed 0.3% higher.

Oil prices added 27 cents to $51.09 U.S. a barrel

Gold prices moved upward $2.90 to $1,188.40 U.S. an ounce.