Stock futures pointed to a higher opening for Canada's main stock index on Thursday as oil prices steadied on hopes that producers were moving towards a common ground on a potential output freeze.
The S&P/TSX Composite tumbled 87.7 points – off its lows of the day -- to conclude the day and month at 14,597.15. Even so, the market rose about 0.4% during August. September futures inched up 0.2%.
The Canadian dollar fell 0.17 cents to 76.14 cents U.S. early Thursday.
Federal Trade Minister Chrystia Freeland reported that Chinese and Canadian firms signed 56 deals worth more than $1.2 billion over the past few months.
North American farmers will pressure regulators to protect their negotiating leverage with fertilizer suppliers if Potash Corp of Saskatchewan and Agrium Inc agree to merge, major farm groups said on Wednesday.
Sunovion Pharmaceuticals, a unit of Japan's Dainippon Sumitomo Pharma Co, said on Wednesday it would buy Canada's Cynapsus Therapeutics for about $624 million.
TD Securities raised the target price on Alimentation Couche-Tard to $87.00 from $85.00
TD Securities raised the target price on National Bank of Canada to $47.00 from $43.00
National Bank Financial reinstates coverage on Victoria Gold Corp. with an outperform rating and 75-cent target price
On the economic front, the Markit Manufacturing Purchasing Managers’ Index for August is due for release at 9:30 a.m. ET.
ON BAYSTREET
The TSX Venture Exchange fell 4.6 points Wednesday to 785.75
ON WALLSTREET
U.S. stock index futures indicated a higher open on Thursday as traders eyed the release of a host of data.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 27 points, or 0.2%, to 18,422, while futures for the S&P 500 picked up 2.75 points, or 0.1%, at 2,173.5. NASDAQ futures gained 11.75 points, or 0.3%, at 4,785.50.
On the earnings front, Campbell Soup reported quarterly results. Broadcom, Lululemon Athletica and Ambarella are among companies set to report after the bell.
Manufacturing Purchasing Managers Index is due at 9:45 a.m. ET. Institute for Supply Management manufacturing and construction spending are to be released at 10 a.m ET. Initial jobless claims came in at 263,000, slightly below the consensus.
U.S. productivity fell 0.6% in the second quarter.
In Europe, the pan European Stoxx 600 Index was up by around 0.8% on Thursday.
In Asia, Japan's Nikkei closed 0.2% higher on Thursday, while in China the Shanghai Composite closed 0.7% lower.
Oil prices faded 32 cents to $44.38 U.S. a barrel
Gold prices slipped $3.40 to $1,308.00 U.S. an ounce.
Related Stories
