Stock futures pointed to a lower opening for Canada's main stock index on Thursday as U.S. crude prices fell below $50.00 U.S. per barrel and investors geared up for a likely increase in interest rate this month by the U.S. Federal Reserve.
The S&P/TSX Composite Index went from positive readings through much of the day to tumbling 111.8 points to close Wednesday at 15,496.86. March futures were off 0.2% Thursday.
The Canadian dollar descended 0.2 cents to 73.97 cents U.S. early Thursday.
Taiwan's Cathay Financial Holding Co is in exclusive talks to acquire the Malaysian unit of the Bank of Nova Scotia, in a deal that could be valued between $200 million and $300 million.
Linamar on Wednesday reported a 21.8% increase in quarterly profit, helped in part by the acquisition of France's Montupet SA last year.
RBC raised the rating on Pretium Resources to outperform from sector perform
Canaccord Genuity cut the rating on Yellow Pages Ltd. to speculative buy from buy
Canaccord Genuity raised the rating on Bellatrix Exploration to speculative buy from hold
On the economic slate, Statistics Canada said its new housing price index edged up 0.1% in January from the month before, mostly on the strength of higher prices in Ontario.
ON BAYSTREET
The TSX Venture Exchange hurtled earthward 9.49 points Wednesday, or 1.2%, to 792.98
ON WALLSTREET
U.S. stock index futures pointed to a slightly lower open on Thursday as traders eyed data, and digested the latest monetary policy decision from the European Central Bank.
Ahead of the opening bell, futures for the Dow Jones Industrials moved downward 21 points, or 0.1%, to 20,847. Futures for the S&P 500 slid 2.75 points, or 0.1%, to 2,361.25. NASDAQ futures dipped 3.75 points, or 0.1%, at 5,359.25.
The central bank left rates unchanged and said it would increase its quantitative easing program should the region's economic outlook worsen. ECB President Mario Draghi is due to give a press conference soon after.
Among companies reporting earnings, Staples reported quarterly results before the bell, sending the stock about 4% lower in the premarket. El Pollo Loco is among companies set to report after the bell.
Initial jobless claims are set to be released this morning, with import and export prices also set to come out at the same time.
European markets dipped by lunch time on the continent, with Japan’s Nikkei 225 up 0.3%.
Oil prices skidded 91 cents to $49.37 U.S. per barrel.
Gold prices tailed off $2.70 to $1,206.70 U.S. an ounce.
