Stock futures pointed to a near-flat opening for Canada's main stock index as uncertainty over Greece's likely default offset a rise in commodities boosted by a weaker U.S. dollar.
The S&P/TSX composite index finished Wednesday down 20.12 points to 14,732.93
The Canadian dollar jumped 0.52 cents to 82.29 cents U.S. early Thursday.
Alignvest Acquisition Corp set up primarily to buy an operating asset, said on Wednesday it is raising almost double the money it set out to generate via an initial public offering on the Toronto Stock Exchange.
The company said it plans to sell 22.5 million units at $10 a unit and raise $225 million. It had initially set out to raise $125 million by selling 12.5 million units at $10 apiece.
First Quantum Mineral hopes Zambia's government and mining firms will settle on a tax regime that will encourage investment in Africa's number-two copper producer, a senior executive said.
Brazil's agriculture minister traveled to Miami on Wednesday to try to increase the sale of Brazilian coffee to restaurant chains Burger King and Tim Hortons, the ministry said in a statement on Wednesday.
Tim Hortons currently imports 90,000 tonnes of coffee, a third of which comes from Brazil, the ministry said. Tim Hortons and Burger King are owned by Restaurant Brands International Inc.
RBC raised the target price on Cenovus Energy Inc to $25.00 from $24.00 considering that the company is taking concrete steps to reposition itself for sustainable growth in shareholder value.
Salman Partners raised the target price on Urthecast Corp. to $4.50 from $4.00 to reflect the company’s opportunities abound after a successful high resolution camera first light event.
On the economic ledger, Statistics Canada reported that there were 521,300 people receiving regular Employment Insurance benefits in April, up only 0.5% from March and down 0.4% from 12 months earlier.
ON BAYSTREET
The TSX Venture Exchange moved up 2.82 points Wednesday to 681.57.
ON WALLSTREET
U.S. stock futures are moving ahead, after spending some time in negative territory Thursday.
Ahead of the opening bell, futures for the Dow Jones Industrials triumphed 53 points, or 0.3%, to 17,879, futures for the S&P 500 took on 5.25 points, or 0.3%, to 2,094.50, and futures for the NASDAQ climbed 12.5 points, or 0.3%, to 4,466.75.
Fitbit, the firm that fashions techy fitness trackers, is making its stock market debut Thursday. The initial public offering was priced at $20 U.S. per share, setting the value of the firm around $4 billion U.S. Shares will begin trading on the New York Stock Exchange under the symbol "FIT".
Shares in software company Oracle are off by about 7.5% pre-market following worse-than-expected earnings. The company reported its revenues were down 5% in the latest quarter as it was hit hard by the strengthening U.S. dollar.
Rite Aid and Kroger are reporting their latest earnings before the market open.
Kroger is one of the largest supermaket chains in the world, and its stock is up 55% over the past 12 months -- though food cost inflation and lower revenues from fuel sales may hurt the company's revenue.
On the economic side, the U.S. Bureau of Labor Statistics will release May inflation figures at 8:30 a.m. ET. Inflation rose 0.1% in April following a 0.2% boost in March, though this is well below the Fed's target level.
Also at 8:30 a.m., the U.S. Department of Labor will post its latest data on weekly jobless claims.
Market sentiment is getting dragged down by worries that Greece and its creditors will not be able to reach a deal. Greece could be just weeks away from defaulting on its debts, and Thursday is seen as a critical day for political leaders to finalize an agreement.
If they can't get a deal, many are predicting doomsday scenarios for the indebted nation.
The risks surrounding Greece have pulled down European markets, which are all in the red in early trading.
Oil prices gained 60 cents to $60.52 U.S. a barrel
Gold prices bolted higher by $21.10 at $1,197.90 U.S. an ounce
Related Stories
