Canada's main stock index looked set to open lower on Wednesday, after Greece's lenders failed to agree on emergency aid, and concern over the U.S. fiscal crisis dented sentiment. Trade is likely to be muted ahead of the U.S. Thanksgiving holiday.
The S&P/TSX Composite Index ended Tuesday ahead 5.88 points to 12,046.28. Futures were down 0.1%
The Canadian dollar dipped 0.05 cents to 100.39 cents U.S. Wednesday morning.
Research In Motion Ltd, for months enveloped by a wave of negative sentiment, got a boost when one of its most influential critics raised his rating on the stock ahead of the launch of RIM's make-or-break new line of BlackBerry 10 devices.
Zambia has granted environmental approval to First Quantum Minerals for a planned 300,000 tonnes per year $640-million copper smelter at its Kansanshi mine license area, the environmental management agency said.
Lululemon Athletica Inc. settled a lawsuit over its distinctive yoga pants against PVH Corp's Calvin Klein and G-III Apparel Group Ltd.
Pipeline operator TransCanada Corp. will pay $210 million for BP Plc's 40% stake in the Crossfield Gas Storage facility, 50 kilometers north of Calgary, Alberta, to consolidate ownership of the operation.
No major Canadian economic data scheduled for release
ON BAYSTREET
The TSX Venture Exchange faded 7.76 points to 1,242.30
ON WALLSTREET
Stocks were poised for a positive open Wednesday after the U.S. government released a strong report on jobless claims and European finance ministers concluded a meeting without finalizing the details of a debt-reduction package for Greece.
The Dow Jones Industrials futures gave back three points to 12,756 while S&P 500 futures gained 1.2 points to 1,387.50, and futures for the tech-rich Nasdaq took on two points to 2,595.50
In the U.S., new jobless claims totaled 410,000 last week, impacted by storm conditions in the Northeast. Investors will be focused on a consumer sentiment report out later this morning.
The U.S. Labor Department's data on initial jobless claims for the week ended November 17 exceeded expectations of 423,000, based on a survey of analysts by Briefing.com. At 10:00, the University of Michigan will release the final version of its consumer sentiment index for November.
Britain's FTSE 100 was flat, while the DAX in Germany edged up 0.2% and France's CAC 40 rose 0.3%.
Asian markets closed higher. The Shanghai Composite gained 1.1%, the Hang Seng in Hong Kong rose 1.4%, and Japan's Nikkei posted a 0.9% gain.
Oil for January delivery rose 80 cents to $87.55 U.S. a barrel. Turmoil in the Middle East has contributed to oil price volatility in recent days, with ongoing violence between the Israeli military and the Hamas leadership of Gaza.
Gold futures for December delivery rose two dollars to $1,725.60 U.S. an ounce.
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