Equity markets in Toronto looked set to reverse the previous session's gains on Wednesday even as upbeat euro-zone economic data pointed to a gradual recovery in the currency bloc.
The S&P/TSX composite index forged ahead 18.28 points, to close at 13,504.48
The Canadian dollar improved 0.29 cents U.S. early Wednesday to 90.52 cents U.S.
TMX Group Ltd reported a fourth-quarter profit that comfortably beat analysts' estimate as trading activity improved.
Intact Financial Corp reported a 40% drop in fourth-quarter profit, hurt mainly by severe winter weather, but raised its dividend.
Osisko Mining Corp. said on Tuesday a Quebec court has scheduled a hearing in early March to decide if its complaints
The euro-zone's private sector logged its busiest month in two and a half years in January as strong manufacturing growth outshone a more modest expansion in services activity, surveys showed.
On matters economic, figures released by Statistics Canada revealed that building permits issued by Canadian municipalities declined 4.1% to $6.5 billion in December, following a 6.6% decrease in November.
The agency added that lower construction intentions for commercial buildings and multi-family dwellings in Ontario and British Columbia were responsible for much of the decrease at the national level in December.
ON BAYSTREET
The TSX Venture Exchange gained 6.94 points to end Tuesday at 947.71
ON WALLSTREET
Investors may pause to lick their wounds Wednesday, after a recent rough ride.
Ahead of the opening bell Monday, futures for the Dow Jones Industrials backed off 30 points, or 0.2%, to 15,308. Futures for the S&P 500 erased 4.7 points, or 0.3%, to 1,739, and futures for the NASDAQ gave back one point to 3,451.
Time Warner announced a new $5-billion U.S. share buyback program as it reported slightly better-than-expected earnings.
CVS Caremark said it will stop selling tobacco products, starting Oct. 1.
Merck reported earnings and sales in line with forecasts, while GlaxoSmithKline raised its dividend as it posted earnings-per-share that came in slightly below expectations.
Twitter will report quarterly results after the close -- the first since last year's IPO.
Shares of tech company ARM Holdings continued to slide after posting a sharp drop Tuesday.
The company's shares have fallen by 20% since the start of 2014
Payroll processor ADP will release its monthly figures on private-sector employment this morning. That report is often considered a barometer of what to expect from the government's key monthly jobs report, due out early Friday.
European markets were mostly higher in morning trading following the release of positive economic data. Euro-zone activity increased in January for the seventh consecutive month, according to Markit's purchasing managers' index, although the final reading was slightly weaker than the initial flash estimate.
Meanwhile, Asian markets closed with mixed results. The Japanese markets clawed back some lost ground after posting a 4% drop Tuesday.
Oil prices added 55 cents to $97.74 U.S. a barrel
Gold prices grew seven dollars to $1,258.40 U.S. an ounce.
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