Stock futures in Canada’s largest centre rose on Thursday, as the risk appetite returned to global markets following a media report that the U.S. and China have tentatively agreed to a truce ahead of a highly-anticipated weekend meeting of the two nations' leaders in Tokyo.
The S&P/TSX Composite Index subtracted 59.06 points to end Wednesday at 16,312.22
The Canadian dollar demurred 0.4 cents to 76.14 cents U.S. early Thursday
September futures improved 0.1% Thursday.
Bank of Nova Scotia said on Wednesday it would sell its operations in Puerto Rico and the U.S. Virgin Islands to Oriental Bank for $560 million in cash.
Pieridae Energy says it will buy gas assets in Alberta from Royal Dutch Shell for $190 million, securing supply for its planned liquefied natural gas plant in eastern Canada.
Woodfibre LNG said it had signed a unit of BP as its first customer, a crucial step towards developing the export facility.
Canaccord Genuity raised the price target on Altus Group to $34.00 from $33.00
National Bank of Canada cut the rating on Canadian Pacific Railway to sector perform from outperform
Credit Suisse starts coverage of Mega Uranium with neutral rating and a price target of $55.00
On the economic blotter, Statistics Canada reported that average weekly earnings of non-farm payroll employees were $1,023 in April, up 0.7% from March.
Compared with 12 months earlier, earnings grew by 2.9%.
ON BAYSTREET
The TSX Venture Exchange fell 11.24 points, or 1.9%, Tuesday to 577.88
ON WALLSTREET
Dow Jones Industrial Average futures turned lower Thursday as investors looked to the two largest economies amid concerns over a protracted trade war.
Futures for the Dow dropped 37 points, or 0.1%, to 26,513.
Futures for the S&P 500 gained 3.75 points, or 0.1%, at 2,921.75.
NASDAQ futures 18.25 points, or 0.2%, to 7,668.50
Shares of Boeing also weighed on Dow futures, falling sharply after the Federal Aviation Administration said on Wednesday that it has found an issue with the 737 Max that the manufacturer must address before it lifts the national grounding order.
Travelers shares fell 1.1% after an analyst at Deutsche Bank downgraded them to sell from hold, noting the company’s bottom line will take a hit in part because of tornado-related catastrophes.
Accenture plc, ConAgra Brands and Nike are among the companies announcing earnings today.
On the data front, a third reading of first-quarter gross domestic product and the latest weekly jobless claims figures will be released this morning. Pending home sales for May will follow slightly later in the session.
Chinese President Xi Jinping is expected to present President Donald Trump with the terms it expects the U.S. to meet before Beijing is willing to settle the contentious trade fight between the two nations, The Wall Street Journal reported Thursday, citing Chinese officials.
The South China Morning Post, reported overnight that officials from Washington and Beijing had tentatively agreed to resume talks aimed at resolving the dispute. Other media outlets could not verify reports.
Trump and Xi are expected to meet at this week’s G-20 summit in Osaka, Japan.
Overseas, the Nikkei 225 rebounded 1.2% Thursday, while in Hong Kong, the Hang Seng index hiked 1.4%
Oil prices sank 53 cents to $58.85 U.S. a barrel.
Gold prices slid $6.80 to $1,408.60 U.S. an ounce.
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