Futures Static Thursday

SouthGobi, Fortis in Focus

Stock futures pointed to a flat opening for markets in Canada’s largest market on Thursday as investors took in a report on retail sales.

The S&P/TSX Composite Index doffed 3.07 points to finish Wednesday at 16,073.58

The Canadian dollar gathered 0.16 cents at 78.85 cents U.S. Thursday morning.

December futures were down 0.02% Thursday.

SouthGobi Resources said on Thursday it sacked its chief executive officer, who is a suspect in a fraudulent loan case, with immediate effect, because of his inability to fulfill his daily duties.

FortisBC said British Columbia has sent its first shipment of liquefied natural gas to China, part of a pilot project to test the feasibility of small-scale LNG exports by container ship from the Pacific Coast province to global markets.

TD Securities raised the price target on Premium Brands Holdings Corp. to $125.00 from $120.00

Raymond James cut the price target on Grenville Strategic Royalty Corp. to $0.12 from $0.25

On the economic beat, Statistics Canada reported that those drawing employment insurance in September decreased by 11,600, or 2.2%, in September to 509,900. This decline follows a 2.4% decrease in August and continues the downward trend that began in October 2016.

Elsewhere, retail sales edged up 0.1% to $49.1 billion in September. Higher sales at gasoline stations, particularly due to higher prices, were the main contributor to the gain. Excluding sales in this sub-sector, retail sales declined 0.2%.

Economists said sales were to have rebounded to 0.9% from a 0.3% fall in the previous month.

The Trudeau government said Canada will create up to 100,000 affordable housing units as part of a national housing strategy, but critics said the long-awaited plan did nothing to free up more land to help stem a growing affordability crisis.

Gold prices gained 46 cents to $1,292. 60

ON BAYSTREET

The TSX Venture Exchange faded 3.06 points Wednesday to 791.49

ON WALLSTREET

Markets are closed in the U.S. for Thanksgiving