Canadian stock index futures pointed to a higher open, supported by some stronger-than-expected North American corporate earnings and data from Germany that boosted hopes of a European Central Bank rate cut.
The S&P/TSX index moved higher by only 0.26 points to finish Tuesday at 12,090.94, with Wednesday futures up 0.4%.
The Canadian dollar sifted off 0.03 cents to 97.44 cents U.S. early Wednesday.
Barrick Gold Corp reported an 18% drop in first-quarter profit on lower metal prices and volumes, and cut its capital spending for this year. But Barrick shares rose in pre-market trading.
Canadian Pacific Railway Ltd reported a 53% rise in first-quarter profit as freight revenue rose and it improved its efficiency.
Cenovus Energy Inc reported a higher first-quarter operating profit as margins at its U.S. refineries improved.
Metro Inc more than tripled its second-quarter earnings, helped by an after-tax one-time gain of $266.4 million related to the sale of 10 million shares of Alimentation Couche-Tard Inc.
BlackBerry said its new smartphone BlackBerry Q10 will be available in Canada starting May 1 through Rogers Wireless Inc, Telus Corp and Bell Mobility.
Colombian financial group Sura and Bank of Nova Scotia said on Tuesday they bought the Peruvian pension fund BBVA Horizonte for a total of $516 million.
No major Canadian economic data is scheduled for release.
ON BAYSTREET
The TSX Venture Exchange slid 3.40 points Tuesday to 940.95
ON WALLSTREET
Stock futures were up slightly Wednesday morning as investors geared up for another batch of earnings.
Futures for the Dow Industrials picked up 12 points, or 0.1%, to 14,656. Futures for the S&P 500 faded 0.7 points to 1,572.90, and futures for the NASDAQ shed 2.75 points, or 0.1%, to 2,820.25
Boeing reported a 20% surge in year-over-year net income, despite a drop in revenue from its grounded Dreamliners.
Ford's also reported a jump in earnings, helped by sales in North America.
Procter & Gamble reported better-than-expected earnings and revenue but lowered its guidance for the current quarter.
Shares of Juniper Networks' fell 6% in pre-market trading after it projected "continued weakness" in its earnings outlook late Tuesday.
AT&T reported quarterly earnings in line with expectations but sales that came up short.
Shares of Yum Brands jumped nearly 4% after the fast-good restaurant operator reported earnings that topped Wall Street's low expectations.
Sprint Nextel beat profit estimates, while revenue was in line with forecasts for the latest quarter.
After Tuesday's close, Apple reported earnings that beat expectations and announced it would raise its quarterly dividend and boost its stock buyback program. But profit fell 18% as the iPhone and iMac maker reported that consumers are gravitating toward its cheaper devices, which hit profit margins.
Also before the opening bell, the U.S. Census Bureau will release data on durable goods orders. A consensus of economist opinion forecasts that orders dropped 3.1% in March.
European markets rose in morning trading, supported by continuing talk of a ECB rate cut following weak euro-zone data. The Ifo German business climate index for April was weaker than expected.
Asian markets ended higher, with Japan's Nikkei adding 2.3%. Hong Kong's Hang Seng added 1.7% and the Shanghai Composite increased 1.6%.
Oil prices increased 17 cents to $89.35 U.S. a barrel
Gold prices gained $16.20 to $1,425 U.S.
