Markets in Toronto looked set to open higher on Thursday, after hitting a one-month high on Wednesday. But investors are waiting for clues from major central banks on economic stimulus, so any gains could be limited.
The S&P/TSX Composite index grew 51.83 points to end Wednesday at 11,905.44. Futures were up 0.3% Thursday morning.
The Canadian dollar gained 0.08 cents Thursday morning to 101.16 cents U.S.
Mining shares could be in focus after Barrick Gold said it was in talks with China National Gold Group Corp over its 74% stake in U.K.-listed unit African Barrick Gold.
Activist investor Jana Partners LLC, the biggest shareholder in the fertilizer company, chastised Agrium Inc. in a private meeting on Wednesday over a recent change in how it compares its retail performance against other companies.
A high-pressure burst of natural gas at a well operated by Encana Corporation in Colorado killed one man and injured three other workers on Wednesday, the company and local authorities said.
ON BAYSTREET
The TSX Venture Exchange gained 9.61 points to 1,206.62. The Nasdaq Canada nipped ahead 1.50 points to 345.75.
ON WALLSTREET
U.S. stocks are poised for a quiet session Thursday, as investors await more economic data on the housing market and laboir sector.
Futures for the Dow Jones Industrials regained 25 points, or 0.2%, to 13,160, about 30 minutes before the opening bell.
Futures for the S&P 500 gained back 3.5 points, or 0.3%, to 1,407, and for the Nasdaq, futures gathered 10.5 points, or 0.4%, to 2,749.
Weekly figures on initial jobless claims are due before the bell Thursday, and investors will be looking for further momentum in the housing market with reports on housing starts and building permits.
After lagging behind other indicators earlier this year, the housing market is now showing signs of life. Home prices and new construction have started to pick up in recent months as foreclosures have slowed. Stocks could get a boost if Thursday's data show continued momentum.
Meanwhile, investors will digest earnings results from Wal-Mart Stores and Sears Holdings Thursday morning.
European stocks were mixed in morning trading. Britain's FTSE 100 shaved off 0.1% and France's CAC 40 lost 0.1%, while the DAX in Germany edged higher 0.2%.
Asian markets closed mixed on Thursday. The Shanghai Composite shed 0.3% and the Hang Seng in Hong Kong fell 0.5%, while Japan's Nikkei gained 1.9%.
Oil for September delivery was practically unchanged, notching up one cent to $94.34 U.S. a barrel.
Gold futures for December delivery rose two cents to $1,606.08 U.S. an ounce.
