Stock futures pointed to a higher opening for equities in Canada’s biggest centre on Wednesday, a day after the index slumped to its lowest in five weeks.
The S&P/TSX composite index collapsed 212.73 points, or 1.4%, to close Tuesday at 14,641.76. March futures peeked up 0.3% Wednesday.
The Canadian dollar inched up 0.05 cents to 78.87 cents U.S. early Wednesday.
Quebecor Inc reported a 3.5% rise in quarterly adjusted income, helped by demand in its telecommunications and media businesses.
UBS AG has poached a U.S. team of some 15 oil and gas investment bankers from Bank of Montreal, significantly weakening the energy dealmaking capacity at “the First Canadian Bank”.
RBC raised the target price of Alimentation Couche-Tard to $52.00 from $47.00
Dundee cut the rating on Entrec Corp. to sell from buy
CIBC cut the rating on Reservoir Minerals Inc. to sector perform from outperform.
ON BAYSTREET
The TSX Venture Exchange jettisoned 11.18 points Tuesday to 669.50
ON WALLSTREET
U.S. indexes were poised for a modest rebound aftersuffering their worst falls this year on Tuesday.
Ahead of the opening bell, futures for the Dow Jones Industrials hiked 41 points, or 0.2%, to 17,707. Futures for the S&P 500 moved higher 7.25 points, or 0.4%, to 2,049.25, and futures for the NASDAQ picked up 11.25 points, or 0.3%, to 4,343.50.
Vera Bradley and Express are due to report ahead of the open. Shake Shack and Krispy Kreme will report after the close.
On the economic slate, the U.S. Treasury Department will issue a budget update at 2 p.m. ET.
European markets were climbing in early trading, led by a 1.2% rise for France's CAC index. Asian markets were mixed, with Hong Kong's Hang Seng closing down 0.8% while Japan's Nikkei added 0.3%.
Poor economic data out of China sparked worries of a sharper-than-expected slowdown in the first quarter. Industrial production, retail sales and fixed asset investment figures for January and February were all weak.
Oil prices added 21 cents to $48.50 U.S. a barrel
Gold prices subtracted three dollars to $1,157.10 U.S. an ounce.
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