Stock futures pointed to a slightly higher opening for Canada's main stock index as gold prices rebounded a day after hitting a five-year low.
The S&P/TSX composite index remained negative 69.12 points to close Wednesday at 14,307.12
The Canadian dollar increased 0.36 cents to 77.09 cents U.S. early Thursday
Loblaw said its revenue rose to $10.54 billion in the second quarter ended June 20 from $10.3 billion a year earlier, helped by strong sales in its food retail business. Loblaw posted a profit of $186 million, or 44 Canadian cents per share, compared with a loss of $456 million, or $1.13 per share
Precision Drilling reported a bigger quarterly loss, hurt by lower drilling activity in North America. The company posted a loss of $29.8 million, or 10 cents per share, in the second quarter ended June 30, bigger than the $7.2 million, or two cents, it reported a year earlier. The company's revenue fell nearly 30% to $334.5 million.
Rogers Communications Inc reported a 10% slip in second-quarter net income on Thursday, as the Canadian telecom, cable and media company made progress in its strategy of attracting value over volume in its wireless business. Toronto-based Rogers said it had net income of $363 million, or 70 cents a share, in the April-June quarter, compared with $405 million, or 79 cents a share, a year ago. Its revenue rose almost 6% to $3.4 billion.
Teck Resources reported a 21% fall in quarterly profit and cut its 2015 coal production forecast due to falling demand from China and increased supply from Australia. Net profit attributable to shareholders fell to $63 million, or 11 cents per share, for the quarter, from $80 million, or 14 cents per share, a year earlier.
Valeant Pharmaceuticals International Inc reported a net loss attributable to the company was $53 million, or 15 cents per share, in the second quarter ended June 30, compared with net profit of $125.8 million, or 37 cents per share, a year earlier.
On the economic side of things, Statistics Canada reported that retail sales rose 1.0% to $43.0 billion in May. After steep declines in
December and January, retail sales increased for the third time in four months to reach a new high.
The agency also reported that Canadians drawing regular employment insurance benefits increased 4,800 in May over April to 527,100, an increase of 0.9%.
ON BAYSTREET
The TSX Venture Exchange dipped 5.92 points to 608.76
ON WALLSTREET
U.S. stock futures were holding steady ahead of a deluge of company results.
Ahead of the opening bell, futures for the Dow Jones Industrials faded 19 points, or 0.1%, to 17,766, futures for the S&P moved higher 0.75 points, or to 2,108.75, and futures for the NASDAQ gained 4.25 points, or 0.1%, to 4,621.25.
Shares for American Express and Qualcomm are both slipping by about 2% in extended trading after releasing lackluster quarterly earnings Wednesday. Qualcomm also announced plans to lay off 15% of its workers.
SanDisk is seeing a 13% boost in its share price pre-market after it reported earnings per share that were double analysts' expectations.
The U.S. Department of Labor is reporting weekly unemployment claims data this morning.
European markets are broadly positive in early trading, though the moves have been muted.
Greece passed a number of new economic reforms overnight, clearing the way for detailed negotiations to begin on a new bailout package worth as much as 86 billion euros ($94.5 billion U.S.).
In Europe, shares in Credit Suisse were rising by about 5% after the bank reported better-than-expected results.
Asian markets ended with mixed results.
Oil prices squeezed higher 19 cents to $49.38 U.S. a barrel
Gold prices picked up $9.10 at $1,100.60 U.S. an ounce.
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