Stock futures pointed to a lower opening for Canada's main stock index tracking weakness in global markets after uncertain news not only from China and Japan but also Brazil.
The S&P/TSX composite index fell 98.82 points to conclude Wednesday at 13,531.85
The Canadian dollar was virtually unchanged at 75.44 cents U.S. early Thursday
Sun Life Financial Inc said it would buy New York-based insurer Assurant Inc's employee-benefits business for $975 million, creating the sixth largest group benefits business in the United States. The deal is expected to help Sun Life's U.S. group benefits business to grow by more than 50% to about $4 billion, the company said on Wednesday.
Dollarama Inc’s quarterly profit surged 38.6% as customers spent more per transaction at its stores. Net income rose to $95.5 million, or 74 cents per share, from $68.9 million, or 51 cents per share, a year earlier. Revenue rose 14% to $653.3 million.
Hudson's Bay Co reported a 15.2% rise in quarterly sales as the department store operator gained from its strengthening online presence. The company reported a net profit of $67 million, or 33 cents, in the second quarter ended Aug. 2, compared with a net loss of $36 million, or 23 cents per share, a year earlier. Sales rose to $2.04 billion from $1.77 billion a year earlier.
Canadian Natural Resources is cutting salaries by up to 10% for all staff in Calgary and Aberdeen, Scotland. CNRL spokeswoman Julie Woo said the salary reduction is a response to low global oil prices, and would be steeper for higher-salaried individuals.
Barclays cut the price target on Empire Company to $88.00 from $95.00 after the company reported adjusted EPS of $1.32, below consensus of $1.65 and forecast of $1.64, for a 20% shortfall.
CIBC cut the target price on Sandvine Corp to $3.00 from $3.50 as the company reported that its fiscal third quarter revenue would be approximately $27 million and market is anticipating sales of $30.4 million, below consensus of $32.8 million
On the economic front, Statistics Canada reported that its new housing price index rose 0.1% in July, following a 0.3% increase in June.
ON BAYSTREET
The TSX Venture Exchange faded 6.27 points Wednesday to 550.35
ON WALLSTREET
U.S. stocks were lurking lower before the open, and most markets around the world are trading in negative territory.
Ahead of the opening bell, futures for the Dow Jones Industrials dropped 62 points, or 0.4%, to 16,208, futures for the S&P 500 fell 7.25 points or 0.4%, to 1,935.50, and futures for the NASDAQ slid 12 points, or 0.3%, to 4,243.
America's biggest company -- Apple -- is still in the spotlight Thursday after unveiling a range of new products on Wednesday, including the iPhone 6S, Apple TV and iPad Pro.
Shares in the tech giant are rebounding a bit in pre-market trading after declining by nearly 2% Wednesday. Be ready for higher-than-normal trading volume.
Lululemon is among a small crop of companies reporting earnings before the market opens.
Zumiez and Restoration Hardware will report after the close.
The federal government will report weekly jobless claims data this morning.
Most European markets are dipping in early trading. Asian markets mostly closed with losses that ranged from about 1% to 2.5%.
Oil prices gained 18 cents to $44.33 U.S. a barrel
Gold prices picked up $4.30 to $1,106.30 U.S. an ounce.
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