Futures for Canada’s main stock index edged lower on Thursday as oil prices slipped, pressured by concerns about global economic growth.
The TSX Composite Index came off its lows of the day, but still got punished 136.69 points to conclude Wednesday at 16,310.97
The Canadian dollar inched up 0.02 cents to 75.04 cents U.S. early Thursday
December futures were down 0.05% early Thursday.
Canadian M&A activity fell by 31% in the third quarter to its lowest in eight quarters and initial public offerings also slowed, with economic headwinds and a decline in cannabis deals among the drivers.
Iamgold has partially halted work at its Rosebel gold mine in Suriname after an influx of illegal miners blockaded operations, local media reported.
Scotiabank cut the target price on Linamar Corp. to $60.00 from $70.00
CIBC cut the target price on Toronto-Dominion Bank to $81.00 from $83.00
ON BAYSTREET
The TSX Venture Exchange lost 0.07 points Wednesday to 554.84
ON WALLSTREET
U.S. stock index futures pointed on Thursday to a flat open as investors awaited the release of key economic data later in the day.
Futures for the Dow Jones Industrials notched higher nine points early Thursday to 25,994.
Futures for the S&P 500 gained 2.25 points, or 0.1 %, at 2,882.75
NASDAQ Composite gained 11.25 points, or 0.2% to 7,557.50
In corporate news, Tesla deliveries missed Wall Street estimates on Wednesday, sending its shares nearly 6% lower in trading after the bell.
PepsiCo and Constellation Brands will report earnings before the bell, with Costco reporting after the session’s close.
The Institute for Supply Management is scheduled to release its non-manufacturing index reading for September at 10 a.m. Earlier in the week, ISM posted its weakest reading on the manufacturing sector in more than 10 years, sparking fears of an economic recession.
Those fears led the Dow to lose more than 800 points over the last two sessions after losing nearly 500 points on Wednesday.
Overseas, in Japan, the Nikkei 225 sank 2% Thursday, while in Hong Kong, the Hang Seng Index recovered 0.3%.
Oil prices gained eight cents to $52.72 U.S. a barrel.
Gold prices picked up $3.10 to $1,511 U.S. an ounce.
