Canada's resource heavy index looked set to open higher after minutes of the latest U.S. Federal Reserve meeting indicated central bank might be ready for third round of stimulus "fairly soon" prompted an optimistic tone that outweighed poor economic data from China and Europe.
The S&P/TSX Composite index gained 2.07 points Wednesday to 12,118.99. Canada stock futures traded up 0.3%
The Canadian dollar nipped ahead 0.11 cents Thursday morning to 100.98 cents U.S.
Among the stocks to watch this morning, Oslo-listed DNO International will not make an offer to buy Calvalley Petroleum after talks with the company failed to provide it with enough information regarding litigation by Al-Zarqa Electricity, the company said.
On the economic ledger, Statistics Canada says the number of folks on the pogey dipped in June. The agency says those drawing regular Employment Insurance benefits continued its downward trend, edging down to 507,600 from 512,100 in May.
ON BAYSTREET
The TSX Venture Exchange added 6.34 points Wednesday to 1,245.66. The Nasdaq Canada eked up 0.10 points to 348.60.
ON WALLSTREET
U.S. stocks are headed for a modestly lower open Thursday, following two manufacturing reports that showed further slowing in China and Europe.
Futures for the Dow Jones Industrials inched down one point to 13,155, about 30 minutes before the opening bell. Futures for the S&P 500 docked 1.5 points to 1,410.80, and for the Nasdaq, futures fell 1.75 points to 2,779.50.
A report showed manufacturing hitting a nine-month low in China. And manufacturing across the euro-zone contracted for the seventh month in a row.
Investors will be keeping tabs on Europe as French President Francois Hollande and German Chancellor Angela Merkel meet to discuss Greece. Greek Prime Minister Antonis Samaras has reportedly been pushing for a two-year extension of the country's bailout program.
Wall Street trading volume is expected to stay light for the rest of August. U.S. stocks ended mixed Wednesday, as minutes from the Federal Reserve's July meeting sparked hope for further stimulus measures.
The minutes show the central bank is considering two key measures to boost the U.S. economy. Investors are likely to stay focused on the Fed, with attention on the Kansas City Fed's annual symposium in Jackson Hole, Wyo. next week.
European stocks turned mixed in afternoon trading. Britain's FTSE 100 added 0.3%, while the DAX in Germany fell 0.1% and France's CAC 40 ticked down 0.3%.
Asian markets ended higher. The Shanghai Composite ticked up 0.3%, the Hang Seng in Hong Kong gained 1.2%, and Japan's Nikkei rose 0.5%.
Oil for October delivery gained 20 cents to $97.45 U.S. a barrel.
Gold futures for December delivery rose 10 cents to $1,616.50 U.S. an ounce.
