Canada's main stock index looked set to open lower, after minutes from the recent U.S. Federal Reserve meeting dampened hopes of risk-asset-boosting stimulus in the near term.
The S&P/TSX Composite Index grew 32.42 points to close Wednesday at 11,544.04. Canada stock futures traded down 0.7%
The Canadian dollar traded down Thursday morning by 0.35 cents to 97.70 cents U.S.
In the news this morning, Cogeco Cable Inc, the main unit of media and telecom company Cogeco Inc, posted a modestly higher third-quarter profit from continuing operations as revenue rose 7.2%.
Other stocks to watch this morning included Corus Entertainment Inc., which reported a 7% rise in third-quarter profit, but said advertising revenue was hurt by soft demand for children's programming.
The European Commission will consult customers and competitors of Thomson Reuters on the company's revised plan to address competition concerns over the use of codes to identify financial data on its systems.
ON BAYSTREET
The TSX Venture Exchange headed south 6.57 points to 1,192.79. The Nasdaq Canada index improved 1.96 points to 343.65.
ON WALLSTREET
U.S. stocks were headed for a lower open Thursday as fears about a global economic slowdown resurfaced.
Futures for the Dow Jones ducked back 76 points, or 0.6%, to 12,460, about 30 minutes before the opening bell. Futures for the S&P 500 lost 9.5 points, or 0.7%, to 1,326.80, and for the Nasdaq, futures gave back 15.5 points, or 0.6%, to 2,546.
Concerns about the euro-zone bailout fund, the European Stability Mechanism, weighed on European stocks. Implementation of the fund won't be quick, and a German high court's decision about whether that country's involvement violates its laws may not happen for months.
The euro fell below $1.22 U.S. to a fresh two-year low against the dollar. And the selling spilled over to commodities, with oil prices sliding more than 1%.
European stocks were lower in morning trading. Britain's FTSE 100 shed 1.1%, the DAX in Germany lost 0.8% and France's CAC 40 slid 0.6%
Asian markets ended mixed. The Shanghai Composite added 0.5%, while the Hang Seng in Hong Kong fell 2% and Japan's Nikkei dropped 1.5%.
The U.S. Labor Department reported 350,000 people filed for first-time unemployment benefits during the week ended July 7 -- beating expectations and reaching a four-year low. The latest numbers showed a decrease of 26,000 from the previous
week's 376,000.
Import prices excluding fuels dropped by 0.3% in June, according to the Bureau of Labor Statistics. Prices have continued to fall for most of the year so far.
At 2 p.m. ET, the Treasury Department will release its budget for June.
Oil for August delivery fell 84 cents to $84.97 U.S. a barrel.
Gold futures for August delivery fell $10.30 to $1,565.40 U.S. an ounce.
Related Stories
