The S&P/TSX Composite Index was set to dip from Tuesday's dizzy heights Wednesday, as fears over euro-zone's debt refinancing intensified after a German bond auction failed to impress investors.
Among Canadian companies to watch, uranium whiz Cameco Corp. said it has constructed a second shaft to reach the main mine workings at its Cigar Lake uranium mining project in northern Saskatchewan.
The Canadian dollar traded at 98.67 cents U.S.
Offshore stocks, meantime, turned broadly lower as investors considered Europe's financial condition and awaited U.S. economic data.
U.S. stock futures declined. Dow futures edged 37 points, or 0.3%, lower to 12,301, while S&P 500 futures dipped 3.1 points, or 0.2%, trading around 1,269, while futures on the tech-rich Nasdaq index fell back two points, or 0.1% to 2,314, about half an hour before the New York Stock Exchange opened.
Investors have an eye on the U.S. non-farm payrolls report for December, due on Friday. The consensus in the markets is that the economy generated 150,000 jobs during the month.
Greece's prime minister was to hold discussions with labour unions and trade federations ahead of a crucial visit by debt inspectors while Athens negotiates the terms of an international bailout. The meetings come a day after a government spokesman warned that Greece could have to leave the euro if it fails to finalize the details of the 130-billion-euro bailout and that more austerity measures may be needed.
Germany successfully auctioned 4.06 billion euros worth of 10-year bonds. Demand for the bonds outstripped supply as investors placed bids for 5.14 billion euros of the securities. The average interest yield was 1.93%, down from 1.98% in November.
After a smart rally on Tuesday, Britain's FTSE 100 was flat and Germany's DAX dipped 0.7%. France's CAC 40 was 0.8% lower,
Japan's Nikkei 225 Index improved 1.2%, while Hong Kong’s Hang Seng Index slid 0.8%.
Oil declined 0.6% to $102.38 U.S. a barrel.
Gold rose 1.2% to $1,601.70 U.S. an ounce.
Related Stories
