Stock futures pointed to a higher start for Canada's main stock index on Tuesday, taking positive cues from European shares after the European Central Bank suggested it might speed up its one-trillion-euro bond-buying program.
The S&P/TSX composite index bolted higher 80 points to close Friday and week at 15,108.12, with June futures ahead 0.4%.
The Canadian dollar fell back 0.13 cents to 82.11 cents U.S. early Tuesday.
Markets were closed Monday in Canada for Victoria Day
Online gambling company GVC Holdings Plc said its bid to buy bigger rival Bwin.Party Digital Entertainment Plc would jointly be financed by Canada's Amaya Inc.
Bombardier said on Monday that its business aircraft president, Eric Martel, would leave the company and be succeeded by David Coleal, the latest in a series of management changes.
National Bank Financial cut the price target on Crombie REIT to $15.00 from $15.25
National Bank Financial raised the price target on Medical Facilities to $16.50 from $15.50
Canaccord Genuity cut the price target on Onex Corp to $81.00 from $83.00
ECB Executive Board member Benoit Coeure said the bank's asset buying would rise slightly in May and June to account for lower market liquidity in the summer holidays in July and August - but not to counter the market selloff.
ON BAYSTREET
The TSX Venture Exchange poked higher 3.31 points Friday to 695.31
ON WALLSTREET
U.S. stock futures are rising, giving investors hope that the Dow Jones industrial average and S&P 500 could smash new records.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 52 points, or 0.3%, to 18,311, futures for the S&P 500 gained five points, or 0.2%, to 2,131, and futures for the NASDAQ took on 16.75 points, or 0.4%, to 4,524
Shares in Urban Outfitters fell sharply in extended trading after the retailer posted quarterly earnings that missed Wall Street's expectations. Shares in the company dropped by about 15%.
Walmart, Home Depot, Dick's Sporting Goods and TJX are all reporting earnings ahead of the open.
Meanwhile, Wall Street newbie Etsy is expected to report after the close. Shares in the company surged by nearly 90% immediately after the company went public in April, but they have since fallen back by roughly 30%.
The U.S. government will post monthly data on housing starts and building permits this morning.
There's a lot going on in Europe right now. European stock markets are rallying in early trading, with both the CAC 40 in France and theDAX in Germany shooting up by about 2%.
European government bonds are also firming, and the euro has fallen by just over 1% versus the U.S. dollar.
Investors are reacting to comments from a senior official at the European Central Bank, who was reported to have said the ECB would step up its bond-buying in May and June before liquidity tails off over the summer. The asset buying is part of the ECB's stimulus program to kill off euro-zone deflation and boost the economy.
Asian markets mostly ended with positive results. The Shanghai Composite led the pack with a gain of 3.1%.
Oil prices settled 63 cents to $58.80 U.S. a barrel
Gold prices ditched nine dollars to $1,218.60 U.S. an ounce.
Related Stories
