Stock futures pointed to a higher opening for Canada's main stock index ahead of a policy statement from the U.S. Federal Reserve.
The S&P/TSX composite index climbed 75.99 points to finish Tuesday at 14,077.36
The Canadian dollar faded 0.18 cents to 77.19 cents U.S. early Wednesday
Sherritt International reported a bigger loss for the second quarter, hurt by lower nickel prices. The company said on Tuesday its adjusted net loss from continuing operations widened to $75.2 million, or 25 cents per share, in the three months ended June 30 from $56.2 million, or 19 cents per share, a year earlier.
Thomson Reuters reported a higher-than-expected quarterly profit even as currency weighed on its revenues. The news and information company said second-quarter net earnings were $281 million, or 33 cents per share, compared with $260 million, or 31 cents per share, a year ago. Adjusted for special items, earnings were 52 cents per share. Analysts on average were looking for 50 cents per share.
The German engineering group Siemens and Bombardier are in early talks to merge their rail businesses, The Wall Street Journal reported, citing people familiar with the matter. The paper said Bombardier was also in talks with other possible partners.
German potash and salt miner K+S has turned to German economy minister Sigmar Gabriel for help against an unwanted takeover approach by Potash Corporation and has discussed the option of German state bank KfW taking a stake in K+S, a newspaper reported on Wednesday.
BMO raises price target on Centerra Gold Inc. to $6.25 from $6.00 after the company reported a better-than-expected second-quarter earnings.
RBC cut the price target on the U.S.-listed shares of Magna International Inc to $67 from $68, expect second-quarter revenue to decline on the sale of the interiors division and forex headwinds.
CIBC cut the price target on Westjet Airlines Ltd to $31.00 from $32.25, following the company’s decision to reduce its capacity growth in fourth quarter.
ON BAYSTREET
The TSX Venture Exchange moved positive 4.36 points to close Tuesday at 586.07
ON WALLSTREET
U.S. stock futures are edging higher ahead of the open.
Ahead of the opening bell, futures for the Dow Jones Industrials hiked 45 points, or 0.3%, to 17,591, futures for the S&P gained 3.75 points, or 0.2%, to 2,091, and futures for the NASDAQ moved higher 10.50 points, or 0.2%, to 4,566.50.
Akamai Technologies, a cloud services company, saw its stock drop about 10% in extended trading following weak earnings.
Shares in insurance company Assurant are up about 10% in extended trading after releasing better-than-expected quarterly results.
Moreover, shares in Gilead Sciences are up 4% pre-market after its earnings beat expectations.
Companies such as Anthem, Altria, Starz and Hilton Hotels are reporting quarterly results ahead of the open.
The Shanghai Composite index and Shenzhen index both regained some lost ground Wednesday, closing with gains of 3.4% and 4.1% respectively.
Markets are stabilizing after intervention by officials aimed at halting a crash that saw the Shanghai Composite drop 8.5% Monday -- its biggest percentage fall in a day since 2007.
European markets are mixed in early trading.
Across Asia, market moves were relatively muted, except for the gains in China.
Oil prices dipped 34 cents to $47.64 U.S. a barrel
Gold prices lost 40 cents at $1,096.30 U.S. an ounce.
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