Canada's main stock index was flat, after hitting 18-month highs on Wednesday, as investors await results from key U.S. companies to find further trading cues.
The S&P/TSX Composite Index dipped 0.18 points to begin Wednesday’s session at 12,824.45
The Canadian dollar slid 0.53 cents to 100.29 cents U.S.
Research In Motion has released a new system to allow its biggest customers to use its new line of BlackBerry 10 smartphones on their own networks, paving the way for the January 30 launch of the make-or-break devices. RIM stock docked 20 cents to $17.54
Aurizon Mines Ltd advised shareholders to reject an unsolicited $780-million takeover offer from rival gold miner Alamos Gold Inc , saying the proposal was inadequate and opportunistic. Shares in Aurizon dropped a penny to $4.73.
Metro Inc said on Tuesday it agreed to sell 48.2% of its stake in Alimentation Couche-Tard Inc.for $479 million. Metro shares leaped 74 cents to $63.44, while Couche-Tard shares were unchanged at $49.20
Bank of Nova Scotia is reportedly targeting growth in Latin American consumer loans and micro-financing, an area that offers wide profit margins at a time when the outlook for loan growth in Scotiabank's home market in Canada is lackluster. Scotiabank stock doffed 17 cents to $58.23
Electronics whiz Celestica Inc. was optimistic about the second half of 2013, despite forecasting first-quarter profit largely below analysts' expectations. Celestica shares were flat at $8.56
Speaking of things economic, the Bank of Canada today announced that it is maintaining its target for the overnight rate at 1%. The Bank Rate is correspondingly 1.25% and the deposit rate is 0.75%.
ON BAYSTREET
The TSX Venture Exchange gained 0.30 points to 1,241.37
Seven of the 14 Toronto subgroups were lower in the first hour, weighed mostly by gold, skidding 1%, consumer staples, down 0.5%, while utilities waned 0.3%.
The half-dozen laggards were led by telecoms, up 0.5%, health-care, gaining 0.3%, and energy, eking higher by 0.2%. Information technology shares were unchanged.
ON WALLSTREET
Stocks traded up slightly as corporate earnings continue to surprise on the upside.
The Dow Jones Industrial Average soared 66.96 points to open at 13,779.20
The S&P 500 took on 0.41 points to 1,492.97, this, a day after the Dow and S&P both hit five-year highs.
The tech-heavy Nasdaq Composite added 12.95 points to 3,156.12
Investors were encouraged by tech earnings released late Tuesday, after IBM and Google both reported earnings that topped forecasts.
US Airways added to the enthusiasm when it reported earnings Wednesday morning that beat forecasts. Shares of McDonald's ticked down slightly though after the company warned that same-store sales could fall in January. Its earnings did top estimates, however.
Investors are now waiting for Apple and Netflix, which are scheduled to report quarterly results after Wednesday's close.
Apple has been under pressure recently amid concerns about waning iPhone sales. Expectations for earnings vary widely, but many forecasters expect Apple to report a drop in profit for the first time in nine years.
Overall, S&P 500 companies are expected to report earnings growth of 3.8% for the last three months of 2012, according to market observers.
Still not all earnings reports have been positive. Luxury retailer Coach disappointed investors. Revenue missed forecasts and Coach said holiday sales were "challenging." Shares fell more than 15%.
JPMorgan Chase Chief Executive Jamie Dimon, at the World Economic Forum in Davos, Switzerland Wednesday, apologized again to shareholders for trading losses the bank suffered on credit derivatives last year, although he said "life goes on."
Prices on the 10-year U.S. Treasury gained some ground, lowering yields to 1.82% from Tuesday’s 1.84%. Treasury prices and yields move in opposite directions.
Oil prices faded 15 cents to $96.53 U.S. a barrel.
Gold prices retreated $1.10 to $1,692.10 U.S. an ounce.
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