Futures for Canada's main stock index rose on Wednesday, following the release of the country's economic growth data, as higher oil and bullion prices lifted sentiment.
The TSX gained 51.57 points to wind up Tuesday at 17,552.46.
The Canadian dollar eked up 0.11 cents to 77.67 cents U.S.
March futures advanced 0.2% Wednesday.
Canada rejected Shandong Gold Mining's bid for indebted TMAC Resources, amid concerns over a Chinese state-owned entity operating in the country's sensitive Arctic region.
Still with TMAC, TD Securities raised its rating to hold from tender.
Turquoise Hill Resources said on Tuesday it intended to pursue "gold streaming" and medium-term debt offering transactions for its Oyu Tolgoi copper and gold project in Mongolia.
TD Securities cut the rating on Genworth MI Canada to tender from hold.
RBC raised the rating on Western Forest Products to outperform from sector perform.
Concerning things macroeconomic, Statistics Canada reported this country’s gross domestic product grew 0.4% in October as 16 of 20 industrial sectors were up in the month.
ON BAYSTREET
The TSX Venture Exchange gained 7.28 points Tuesday to 829.97.
ON WALLSTREET
U.S. stock futures edged higher early Wednesday, largely recovering from earlier declines after President Donald Trump expressed concerns about the new COVID-19 relief package which could delay the deployment of funds to struggling Americans.
Futures for the Dow Jones Industrials shot up 42 points, or 0.1%, at 29,955.
Futures for the S&P 500 gained 5.5 points, or 0.1%, at 3,682.75.
Futures for the NASDAQ Composite sank 0.25 points to 12,709.75.
Late on Tuesday, Trump called the new $900-billion COVID relief bill an unsuitable “disgrace” and admonished lawmakers to alter the bill’s contents, especially the amount allocated for direct payments to Americans. Trump did not threaten to veto the legislation but he asked to be sent a “suitable bill or else the next administration will have to deliver a COVID relief package.”
Congress passed the rescue bill this week with $900 billion in pandemic aid after months-long negations. The package includes additional jobless benefits, more small business loans, direct payments of $600 and funds to distribute COVID-19 vaccines, among other provisions.
Last week’s jobless claims numbers gave investors some small sense of Christmas cheer. The U.S. Labor Department revealed the jobless claims totaled 803,000 last week. Economists polled by Dow Jones had predicted 888,000 Americans filed for unemployment last week, more than the previous week’s 885,000.
Overseas, in Japan, the Nikkei 225 gained 0.3% Wednesday, while in Hong Kong, the Hang Seng index moved ahead 0.9%.
Oil prices nicked nine cents to $47.11 U.S. a barrel.
Gold prices slumped $6.90 at $1,863.40 U.S.
Related Stories
