Canadian stock index futures fell, along with oil prices, as industry data showed an unexpected build in U.S. crude stocks in the previous week.
The S&P/TSX Composite leaped 157.83 points, or 1.1%, to close Tuesday at 14,756.28
The Canadian dollar dipped 0.08 cents to 74.28 cents U.S. early Wednesday.
Loblaw Cos reported a 25.5% rise in quarterly profit, helped by a drop in expenses and improved performances by its financial services and property businesses. Adjusted net earnings attributable to shareholders rose to $512 million, or $1.26 per share, in the third quarter, from $408 million, or 98 cents per share, a year earlier.
Congo state miner Gecamines said it is "strongly opposed" to Lundin Mining selling a 24% stake in the Tenke copper mine to a Chinese company, arguing that it has a preemptive right to buy the stake.
CIBC raised the target price on Spin Master to $36.00 from $35.00, citing a favourable organic top-line trends or opportunities that should lead to stronger revenue growth than the toy industry at large.
Metro Inc reports Q4 earnings today, expecting 56 cents per share
Profound Medical Corp expects a Q3 loss of nine cents per share
TIO Networks projects Q4 earnings of two cents per share
On the economic slate, Statistics Canada reported that manufacturing sales in Canada rose for the fourth consecutive month, up 0.3% to $51.5 billion in September.
The agency says the gain reflected higher sales in the transportation equipment and fabricated metal industries.
ON BAYSTREET
The TSX Venture Exchange took on 17.52 points, or 2.4%, Tuesday to 747.16
ON WALLSTREET
U.S. stock index futures pointed to a lower open on Wednesday as trader's expectations of an eight-day winning streak waned.
Ahead of the opening bell, futures for the Dow Jones Industrials faded 66 points, or 0.4%, to 18,831. Futures for the S&P 500 fell nine points, or 0.4%, to 2,170.25. NASDAQ futures dipped 19.25 points, or 0.4%, to 4,746.75.
The Dow’s run has propelled the index to all-time records.
On the earnings front, Lowe's and Target were among the firms reporting before the bell.
On the data front, October Producer Price Index figures came in unchanged. Industrial production data are also due at 9:15 a.m. ET, and NAHB homebuilders sentiment at 10 a.m. Treasury's international capital flows is released at 4 p.m.
European stocks straddled breakeven, early afternoon local time, while in Asia, the Shanghai Composite in China closed 0.1% lower, while the Nikkei 225 in Japan closed 1.1% higher.
Oil prices dipped 41 cents to $45.40 U.S. a barrel
Gold prices jumped $1.70 at $1,226.20 U.S. an ounce.
Related Stories
