Toronto's main stock index looked set to open slightly higher on Wednesday, helped by a rise in prices for commodities including gold, copper and U.S. oil.
The S&P/TSX composite index gained 20.09 points to end Tuesday’s session at 12,878.58
The Canadian dollar gained 0.04 cents to 97.51 cents U.S. early Wednesday.
Transcontinental Inc reported a 5% rise in first-quarter adjusted profit, helped by the acquisition of Quad/Graphics Canada Inc.
Air Canada won a seven-year extension on Tuesday of the cap on special payments to erase its sizeable pension fund deficit, over the objection of its smaller rivals, but will have to make higher payments than it originally requested and abide by certain conditions.
Alamos Gold Inc CEO John McCluskey said the company was likely to walk away from a bid to buy Aurizon Mines Ltd if it loses a regulatory ruling on the merits of a poison pill adopted by Aurizon and the break fee committed to rival bidder Hecla Mining Co.
ON BAYSTREET
The TSX Venture Exchange gained 2.88 points to 1,119.15
ON WALLSTREET
Much stronger-than-expected retail sales might be enough to lift the Dow to its seventh straight record high Wednesday.
Futures for the Dow Industrials took on eight points to 14,394. Futures for the S&P 500 nipped up 0.6 points to 1,547.40, and futures for the NASDAQ gained 0.5 points to 2,798.50.
The futures figures turned higher after the U.S. Commerce Department reported that retail sales rose 1.1% in February, the best month since September.
Sales were expected to rise only 0.5%, as economists worried that increased payroll tax, delayed tax refunds and higher gas prices would cause consumers to pull back on spending.
Another look at consumer spending will come after the bell when a variety of clothing retailers, includingColdwater Creek, Guess? and Men's Wearhouse report quarterly results.
Apple shares continued their recent slide in pre-market trading. Shares fell further Tuesday, as investors worried about slowing demand for the iPhone 5 and what Apple plans to do with its cash.
Shares of Boeing were higher in pre-market trading Wednesday, The Federal Aviation Administration gave the aircraft maker permission late Tuesday to start testing its proposed fix to the lithium batteries on the 787 Dreamliner, a key step in getting the aircraft that has been grounded by a safety probe since Jan. 16 back into service.
European markets were weaker in morning trading, pulled lower by disappointing earnings and caution ahead of eurozone industrial production figures due later.
Asian markets also ended weaker. Japan's Nikkei closed 0.6% lower as the yen firmed against the dollar on divisions in parliament over the appointment of the new Bank of Japan governor. The Shanghai Composite and Hong Kong's Hang Seng fell on reports of further measures to curb inflation, in particular in the property sector.
Oil prices added 39 cents to $92.93 U.S. a barrel
Gold prices dipped $2.10 an ounce to $1,589.60 U.S.
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