Stock futures pointed to a higher opening for indices in Toronto on Thursday as oil prices rose after a decline in weekly U.S. production eased concerns about deepening oversupply.
The S&P/TSX Composite Index strengthened 74.36 points to finish Wednesday at 15,355.58. September futures prospered 0.2% early Thursday.
The Canadian dollar inched steadily upward 0.06 cents to 76.76 U.S. early Thursday.
Home Capital Group said on Thursday it expects to record a loss in the second quarter due to costs related to its efforts to shore up liquidity.
Gabriel Resources will seek $4.4 billion in damages from Romania for losses related to its long-stalled Rosia Montana gold mine project in a claim that the Canadian miner plans to file Friday with a World Bank Tribunal.
Quebec's largest pension fund has dismissed as "absolute nonsense" claims by Boeing that its $1.5-billion investment in Bombardier's rail business amounted to an unfair subsidy to the Canadian company.
National Bank of Canada raised the price target on Air Canada to $20.00 from $18.50
CIBC assumes coverage on Gluskin Sheff + Associates with an outperform rating
Canaccord Genuity started coverage on Spectra7 Microsystems with speculative buy rating
On the economic slate, Statistics Canada told us that average weekly earnings of non-farm payroll employees were $971.00 in April, little changed from March.
Compared with April 2016, earnings were up 2%, with most of the increase occurring in the last two months of 2016.
ON BAYSTREET
The TSX Venture Exchange fell 0.36 points Wednesday to 769.50
ON WALLSTREET
U.S. stock index futures pointed to a mixed open on Thursday after all big banks tested by the Federal Reserve got their capital repurchase programs approved.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 35 points, or 0.2%, to 21,437. Futures for the S&P 500 took on five points, or 0.2%, to 2,443.50. NASDAQ futures docked 16 points, or 0.3%, to 5,747.50
Morgan Stanley, JPMorgan Chase, Wells Fargo, Citigroup and Bank of America all traded at least 1% higher.
For the first time in seven years, the Fed did not object to any of the capital plans of 34 banks it reviewed in the second part of the annual stress tests implemented in the wake of the financial crisis.
Investors are expected to be keeping an eye on central banks in Europe and the U.S., as well as moves in the currency space.
In data news, real Gross Domestic Product data was due out this morning, along with jobless claims
European markets showed a mixed trading picture as of noon on the continent, while in Asia, the Nikkei 225 in Japan regained 0.5%, while Shanghai’s CSI 300 recovered 0.6%
Oil prices moved up 59 cents to $45.33 U.S. per barrel.
Gold prices slid five dollars to $1,244.00 U.S. an ounce.
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