Toronto’s main stock index opened higher on Wednesday after the Bank of Japan became the latest major central bank to ease monetary policy.
The S&P/TSX composite index opened Wednesday higher by 9.02 points at 12,431.73
The Canadian dollar fell 0.07 cents to 102.53 cents U.S.
The Bank of Japan eased monetary policy by boosting its asset-buying program, as prospects of a near-term recovery in the world's third largest economy faded due to weakening exports and a prolonged slowdown in Chinese growth.
Stocks to watch this morning include miner B2Gold Corp, which said it is buying CGA Mining Ltd in a deal valued at about $1.1 billion.
The financial gains Enbridge Inc. forecasts will flow from its proposed Northern Gateway pipeline to Canada's West Coast are based on rosier oil production predictions than the company shares with its own investors and analysts
Great Basin Gold Ltd. said its South African unit Southgold Exploration filed for creditor protection a week after it suspended operations at its Burnstone mine.
Valeant Pharmaceuticals International Inc. said it is offering about $1.75 billion of senior unsecured notes through a U.S. subsidiary to help fund its acquisition of Medicis Pharmaceutical Corp.
ON BAYSTREET
The TSX Venture Exchange added 8.19 points to 1,330.83.
All but three of the 14 Toronto subgroups were higher at the outset, led by metals and mining, ahead 1%, while materials and information technology each gained 0.5%.
The three laggards were energy, off 0.5%, industrials, down 0.4%, and telecoms, declining 0.3%.
ON WALLSTREET
Stocks opened little changed Wednesday, following the release of weak U.S. housing data.
The Dow Jones Industrial average progressed 35.55 points early Wednesday to 13,600.20, following a report that showed housing starts grew at a slower pace than expected in August, and building permits dipped.
The housing market had been showing signs of improvement but Wednesday's latest report showed just how much still needs to be done.
The S&P 500 index dipped 0.47 points, to 1,458.85, and the tech-heavy Nasdaq Composite Index added 1.37 points to 3,179.18
General Mills shares rose 2% after the food producer reported quarterly earnings of 66 cents per share, slightly beating expectations.
AutoZone reported better-than-expected earnings but same-store sales fell below forecasts, pushing the company's stock 4% lower.
Bed Bath & Beyond will report after the close.
Yahoo shares rose 1%, after the company announced Tuesday that it would return to shareholders most of the proceeds from selling a portion of its stake in China's Alibaba.
On the economic slate, privately-owned housing starts in the U.S. rose by 2.3% to an annualized pace of 750,000 units in August following the downwardly revised 733K reading seen in the previous month (initially reported as 746,000). Market expectations going into the report were for an annualized 767,000 starts in August.
Elsewhere, the National Association of Realtors will release data today on existing home sales for August, which are expected to have reached an annual rate of 4.58 million.
The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 1.77% from 1.81% late Tuesday. Treasury prices and yields move in opposite directions
Oil prices for September delivery sank $1.70 to $93.59 U.S. a barrel.
Gold prices gained $1.60 an ounce to $1,772.80 U.S.
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