Stock markets in Toronto looked set to open lower on Wednesday even as German and French economic data pointed to a steady recovery from an 18-month long recession in the currency bloc and boosted European markets.
The S&P/TSX composite index added 47.92 points to end Tuesday at 12,642.19. Futures were down 0.03%
The Canadian dollar up 0.05 cents, to 96.72 cents U.S. early Wednesday
Metro Inc posted a 4% rise in third-quarter profit and said it will partner with Target Corp to operate the U.S. retailer's in-store pharmacies in Quebec.
Raymond James raised the target price on Aecon Group Inc to $16 from $15 following the company's solid quarterly results
National Bank Financial cut the price target on Chorus Aviation Inc to $2 from $2.50 on valuation
Raymond James raises the price target on Fortuna Silver Mines to $4.75 from $4.50, prompted by a trim to analysts' operating cost assumptions.
RBC cut the price target on Pure Industrial REIT to $5.25 from $5.50, says the adjustment is consistent with market-based valuation adjustments already implemented for many names
Raymond James cut the price target on Rocky Mountain Dealerships Inc to $13 from $15 after the company reported second-quarter net income below expectations
ON BAYSTREET
The TSX Venture Exchange fell 0.91 points Tuesday to 924.95
ON WALLSTREET
Investors were preparing for another August trading day of muted market moves with many market participants away on holiday, leading to relatively low-volume stock trading.
Ahead of the opening bell, futures for the Dow Industrials fell 20 points, or 0.1%, to 15,391. Futures for the S&P 500 dipped 2.60 points, or 0.2%, to 1,688.20, and futures for the NASDAQ erased 3.75 points, or 0.1%, at 3,133.25
Companies including Deere and Macy's were set to report their quarterly results before the opening bell. Cisco Systems will report after the close.
Apple shares extended gains in pre-market trading Tuesday after rising 4.8% during the trading day. The stock rallied on news that investor Carl Icahn has taken a stake in the company, calling it "extremely undervalued."
Shares of BlackBerry were up 2% in pre-market trading, as investors grow more confident that the struggling smartphone maker can find a way to keep the company afloat.
On Monday, BlackBerry said its board has formed a special committee to look into "strategic alternatives," including the possibility of selling off the company, that would boost sales on its new BlackBerry 10 operating system.
On the economic front, the Census Bureau will release its monthly report on producer prices this morning.
European markets were relatively quiet in the afternoon, finding some support from strong economic reports in Germany and France.
Asian markets had a mixed day. Japan's Nikkei 225 advanced by 1.3% while the Shanghai Composite dipped by 0.3%. The Hang Seng in Hong Kong was closed due to weather-related problems.
Oil prices slipped 56 cents to $106.27 U.S. a barrel
Gold prices advanced $2.60 to $1,323.10 U.S. an ounce.
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