Canada’s main stock index futures were little changed, tracking U.S. stock futures as investors await more cues from several U.S. Federal Reserve officials, including Chair Janet Yellen speaking later in the day
The S&P/TSX composite index lost 69.7 points to close Wednesday at 13,341.93.
The Canadian dollar was down 0.3 cents to 75.09 cents U.S. early Thursday
Encana Corp reported a third-quarter loss, compared with a year-ago profit, hurt by an asset impairment charge of more than $1 billion. Encana reported a net loss of $1.24 billion for the quarter ended Sept. 30, compared with a profit of $2.81 billion a year earlier.
Encana's operating loss, which excludes most one-time items, was $24 million, or three cents per share, compared with a profit of $281 million, or 38 cents per share, a year earlier. Analysts on average were expecting a loss of four cents per share.
Manulife Financial reported a lower quarterly profit for the third quarter on Thursday, with losses in its oil-and-gas investments weighing on the results. Net earnings for the quarter ended Sept. 30 fell to $622 million, or 30 cents a share, from $1.1 billion, or 57 cents, a year ago. Core earnings per share rose to 43 cents from 39 cents a year earlier.
Socgen raised the rating on CGI Group to buy from hold to reflect sufficient upside and catalysts which is beneficial for the company.
Canaccord Genuity raised the target price on Franco-Nevada to $74 from $71 saying that the company outperformed its peers and good asset performance.
RBC cut the target price on Goldcorp Inc to $17.00 from $18.00 considering that the company has failed to deliver on the operating and development targets.
On the economic scene, Statistics Canada was out this morning with its new housing price index for September edged up 0.1% in September, following a 0.3% increase in August.
ON BAYSTREET
The TSX Venture Exchange inched down 3.08 points Wednesday to 528.42
ON WALLSTREET
U.S. stock futures are not making any major moves ahead of the open, trading roughly in line with Wednesday's closing levels.
Ahead of the opening bell, futures for the Dow Jones faded 67 points, or 0.4%, to 17,588, futures for the S&P 500 scaled back 5.25 points, or 0.3%, to 2,063.75, and futures for the NASDAQ dipped 13.5 points, or 0.3%, to 4,618.25.
Investors will be closely watching earnings from retailers including Kohl's, Dillard's and Nordstrom on Thursday after Macy's results on Wednesday came in below Wall Street expectations.
Shares in Macy's dropped by 14% after it reported third quarter sales fell by 5% compared to a year ago. It also warned sales in the fourth quarter would be lower than last year.
China's annual online shopping bonanza ended with Alibaba smashing its own record with sales of $14.3 billion U.S.
Viacom and British soccer club Manchester United are among a number of companies reporting earnings before the opening bell.
After the close, investors will hear from companies including Cisco Systems and Party City.
The latest weekly U.S. jobless claims data is coming out at 8:30 a.m. ET.
And crude inventory numbers will be released at 11 a.m. Then the Treasury Department will release its October budget information at 2 p.m.
European markets are dipping in early trading, while Asian markets ended with mixed results. The Hang Seng in Hong Kong staged the biggest move higher with a 2.4% jump.
Oil prices fell back 66 cents to $42.27 U.S. a barrel
Gold prices stepped down $4.42 to $1,081.84 U.S. an ounce.
Related Stories
