Stock markets in Toronto looked set to open lower on Wednesday, as focus shifted from Barack Obama's presidential win to the "fiscal cliff" that might derail the world's largest economy.
The S&P/TSX composite acquired 8.42 points to end Tuesday at 12,361.20
The Canadian dollar slipped 0.04 cents to 100.77 cents U.S. Wednesday morning.
Bombardier reported a 10% rise in third-quarter profit and said it would delay by about six months the first flight of its C-Series jetliner and cut about 1,200 jobs in its train manufacturing division.
Enbridge reported a third-quarter profit as losses on financial derivatives fell and it carried more oil and natural gas on some of its pipelines.
Agrium reported lower quarterly profit due to downtime at its potash mine and dragged-out contract talks with China and India.
WestJet reported an 80% rise in third-quarter profit as it flew more passengers.
ON BAYSTREET
The TSX Venture Exchange advanced 1.21 points to 1,303.14
ON WALLSTREET
World markets lost momentum and turned lower Wednesday, following the re-election of U.S. President Barack Obama and pessimistic comments from European Central Bank President Mario Draghi.
"Unemployment is deplorably high," the central bank president said. "Overall economic activity is weak and it is expected to remain weak in the near term. And the growth of money and credit are subdued."
The Dow Jones Industrials futures plummeted 115 points, or 0.9%, to 13,086 while S&P 500 futures shed 10.60 points, or 0.7%, to 1,414.60, and futures for the tech-rich Nasdaq docked 23.50 points, or 0.9%, to 2,652.25.
Analysts said Obama's win was likely to ensure continuity in monetary policy in the near term, after his challenger Mitt Romney expressed concern over the Federal Reserve's quantitative easing.
After an initial decline in Asian markets, the Hang Seng in Hong Kong ended up 0.3%, while the Nikkei in Tokyo and the Shanghai Composite dropped by a fraction of a percent.
In Europe, the DAX in Germany and the CAC 40 in France each fell about 0.7%, while Britain's FTSE lost 0.3%.
Oil prices fell back $1.16 to $87.55 U.S. a barrel
Gold prices improved $6.40 an ounce to $1,721.40.
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