Canadian stock index futures pointed to a higher open on Friday as investors took confidence from Cyprus's agreement with Greece to spin off Greek units of debt-ridden Cypriot banks.
The S&P TSX index lost 78.68 points to end Thursday at 12,747.87
The Canadian dollar took on 0.15 cents to 97.64 cents U.S. early Friday.
Bombardier said revenue could nearly double over the next five years, boosted by its new fleet of business and commercial aircraft, and that it planned to plow some of the cash into bigger dividend payments.
Elsewhere, Silver Wheaton Corp. reported a 23% rise in fourth-quarter profit as output rose by more than a fifth.
ON BAYSTREET
The TSX Venture Exchange slid 2.99 points to register at 1,102.98 at Thursday’s closing bell
ON WALLSTREET
Stock futures experienced a sudden uplift Friday, after a representative of the Cyprus government said a bailout deal could be reached in the next few hours.
Futures for the Dow Industrials galloped 34 points, or 0.2%, to 14,381. Futures for the S&P 500 picked up 4.10 points, or 0.3%, to 1,543.20, and futures for the NASDAQ improved 6.75 points, or 0.2%, to 2,776.50.
The announcement helped alleviate a cloud of uncertainty that's been looming over Wall Street.
All eyes are on Cyprus, where lawmakers are discussing new proposals to raise the money the country needs to qualify for its European Union bailout.
Talks between Russian officials and the Cyprus government broke up early Friday, with no agreement on a cash infusion that could help the island nation secure a €10-billion bailout. Nearly a third of the money in Cyprus' outsized banking sector is from Russian depositors.
The clock is ticking and the pressure is on. The European Central Bank told the troubled nation Thursday that it had until Monday to find a solution.
Early Friday, shares of Micron Technology spiked after the company's earnings blew past estimates, sparking a slew of analyst upgrades.
Shares of BP rose nearly 3% in premarket trading after the firm said it was moving ahead with plans to buy back up to $8 billion U.S. of stock after completing the sale of its 50% stake in TNK-BP to Rosneft.
Nike shares surged 8% in premarket trading Friday after the apparel giant reported quarterly earnings on Thursday that beat expectations.
Tiffany's stock jumped 5% in premarket trading after the jewelry retailer reported a jump in quarterly profit.
European markets were mostly higher in midday trading, reversing some of their losses as investors reacted to developments in Cyprus.
Asian markets ended mixed. The Shanghai Composite added 0.2%, while the Hang Seng lost 0.5% and the Nikkei declined 2.4%.
Oil prices gained 43 cents to $92.88 U.S. a barrel
Gold prices staggered $10.80 an ounce to $1,603.40 U.S.
