Equities in Canada’s largest market rose on Thursday, tracking an upbeat mood on Wall Street, while higher commodity prices also boosted sentiment.
The S&P/TSX Composite Index fell 142.17 to end Wednesday’s session at 21,932.18.
June futures were up 0.5% Thursday.
The Canadian dollar eked up 0.09 cents to 79.63 cents U.S.
Brookfield Asset Management and fund manager Morrison & Co entered an exclusivity deed with Uniti Group on Thursday, after a Macquarie-led consortium offered A$5 per share ($3.73 U.S.) for the Australian telecom firm.
Morgan Stanley cut the rating on First Quantum Minerals to equal-weight from overweight
Desjardins raised the target price on Neighbourly Pharmacy to $35.00 from $33.00
National Bank of Canada resumes coverage on Sienna Senior Living with an outperform rating.
Saskatchewan on Wednesday forecast a deficit of a $463 million in the 2022-23 fiscal year, less than a fifth of last year's $2.6-billion deficit, as stronger oil and potash prices bring in more revenue.
ON BAYSTREET
The TSX Venture Exchange added 4.52 points Wednesday to 876.20.
ON WALLSTREET
Stock futures rose early Thursday morning as investors tried to recover from declines in Wednesday’s regular trading session.
Futures for the Dow Jones Industrials leaped 128 points, or 0.4%, to 34,378.
Futures for the S&P 500 gained 22 points, or 0.5%, to 4,469.50.
Futures for the NASDAQ Composite Index hiked 85 points, or 0.6%, to 14,532.
Stocks have seesawed this week, alternating between up and down days. The Dow is about 1% lower on the week while the S&P 500 and NASDAQ Composite are little changed.
Streaming service Spotify rose 3.7% in early morning trading, as Google said it will allow the streaming platform to offer its own billing on Android devices.
Olive Garden parent company Darden Restaurants saw shares dip 2% in premarket trading after a weaker-than-expected earnings report before the bell Thursday. KB Home dropped 3.8% after an earnings miss Wednesday.
Investors are continuing to monitor the war in Ukraine and weigh the Federal Reserve’s rate hikes amid persistent inflation.
NATO leaders met in Brussels Thursday to discuss increasing pressure on Russia, as Ukraine appears to be retaking ground in the war.
On the data front Thursday, weekly jobs claims data and durable goods orders will be released at 8:30 a.m.
In Asia, the Nikkei 225 in Japan gained 0.3%, while in Hong Kong, the Hang Seng index hesitated 0.9%.
Oil prices dipped 23 cents to $114.70 U.S. a barrel.
Gold prices soared $20.20 to $1,957.50 U.S.
