Canada's main stock index looked set to open higher on Thursday, extending gains from the previous session, as positive data emerging out of manufacturing surveys in China and the United States helped boost confidence and euro-zone Purchasing Managers’ Index data was not as bad as anticipated.
The S&P/TSX Composite Index closed higher by 53.78 points Wednesday to 12,100.06. Futures were up 0.2% this morning,
The Canadian dollar gave back 0.08 cents to 100.27 cents U.S. Thursday morning.
Brookfield Asset Management Inc. said it would merge its real estate, facilities and project management services with the Australian and New Zealand business of auto parts supplier Johnson Controls Inc to form a single entity.
The euro-zone economy is on course for its deepest downturn since early 2009, while Chinese factories returned to growth last month bringing better news for the world economy, business surveys showed.
European Union negotiators believe they are close to securing British and German backing for a deal on nearly a trillion euros of spending over the next seven years, but last minute concessions may be needed to secure French and Polish support.
On the economic front, Statistics Canada reported this morning that retail sales added 0.1% to $39.1 billion in September, following increases in the previous two months.
The nation’s number crunchers also said that those of us receiving regular Employment Insurance benefits in September declined, by 5,700, or 1.1%, to 525,900.
Elsewhere, falling home prices and an uptick in household income made Canadian home ownership slightly more affordable in the third quarter, but the longer-term trend is largely unchanged, according to a report from RBC Economics.
ON BAYSTREET
The TSX Venture Exchange gained only 0.36 points to close Wednesday at 1,242.66
ON WALLSTREET
U.S. markets were closed Thursday for Thanksgiving
