Stock futures pointed to a higher opening for equities in Toronto on Thursday.
The S&P/TSX composite index remained positive 15.12 points Wednesday to 12,937.59. Futures on Thursday were up 0.3%, more than an hour before the opening bell.
The Canadian dollar increased 0.2 cents to 73.86 cents U.S. early Thursday
Cenovus Energy Inc said it expects to spend between $1.4 billion and $1.6 billion in 2016, 19% lower than its budget for this year, in response to a steep decline in crude prices.
OpenText Corp.’s CEO says his company plans roughly to double its revenue and cash flows in the next few years largely through acquisitions.
CIBC cut the target price on Dollarama to $90.00 from $94.00
CIBC then cut its target price on Empire Company to $27.00 from $28.00
Canaccord Genuity cut the price target on Gibson Energy to $20.00 from $23.00
On the economic slate, Statistics Canada reported that its New Housing Price Index rose 0.3% in October, following a 0.1% increase in September. The gain was largely attributable to higher new home prices in Ontario.
ON BAYSTREET
The TSX Venture Exchange dropped one point Wednesday to 505.34.
ON WALLSTREET
U.S. stock futures are moving higher, ahead of a possible recovery from three straight days of losses.
Ahead of the opening bell, futures for the Dow Jones hiked 39 points, or 0.2%, to 17,495, futures for the S&P 500 gained 6.5 points, or 0.3%, to 2,048.5. NASDAQ futures jumped 14.25 points, or 0.3%, to 4,630.25
Both DuPont and Dow Chemical stocks surged nearly 12% Wednesday on reports of a merger between the two companies.
FMC Technologies Inc. is down 1.4% pre-market after Bloomberg reported the oilfield services provider is in merger talks with Technip SA.
Adobe Systems is reporting fourth quarter earnings after the close. Adobe is hoping for growth in its cloud computing business.
European markets are mixed in early trading, while Asian markets ended the session mostly in the red.
Oil prices acquired eight cents to $37.24 U.S. a barrel
Gold prices dipped 50 cents to $1,072.28 U.S. an ounce.
Related Stories
