Markets in Toronto looked set to open lower on Wednesday as the possibility of a U.S. military strike against Syria dragged investor sentiment lower, despite positive economic data from the euro zone and China.
The S&P/TSX composite index finished Tuesday higher by 86.60 points to 12,740.50. Futures were down 0.2% early Wednesday.
The Canadian dollar added 0.43 cents to 95.35 cents U.S. early Wednesday
Roughly 1,000 people gathered in Romania's capital late on Tuesday for a third day of protests against plans by firms such as Gabriel Resources Ltd. to start an open-cast gold mine in the small Carpathian town of Rosia Montana.
CIBC raised the target price on Alimentation Couche-Tard to $63 from $60, saying the company's first quarter showed the first signs of stabilization and performance from the Statoil Fuel & Retail acquisition.
CIBC cut the rating on Bank of Nova Scotia to sector performer from sector outperformer, declaring that the company's shares have struggled of late on concerns over emerging markets.
Canaccord Genuity cut the target price on Dundee International REIT to $9.75 from $10.25
Canaccord Genuity raised the target price to $63 from $61.50 after the company purchased an additional 71.6 million shares of Litha Healthcare from Blackstar Group, increasing its total ownership in Litha from 44.5% to 57.7%.
In the economic docket today, Statistics Canada reported that merchandise imports grew by 0.6% in July, while exports were off 0.6%, meaning our trade deficit with the rest of the world widened to $931 million in July from $460 million in June.
ON BAYSTREET
The TSX Venture Exchange held onto gains of 2.27 points to end Tuesday at 941.58
ON WALLSTREET
Investors were on edge Wednesday as it seems increasingly likely that the U.S. will lead a military strike against Syria.
Ahead of the opening bell, futures for the Dow Jones Industrials ducked back 20 points, or 0.1%, to 14,807. Futures for the S&P 500 dropped 1.60 points, or 0.1%, to 1,637.50, and futures for the NASDAQ gained 6.75 points, or 0.2%, at 3,093.25
Discount retailer Dollar General will report its second-quarter results before the open.
On Tuesday, H&R Block shares were down in after-hours trading after missing analyst expectations.
All three indexes ended the trading day with gains on Tuesday, but pulled back from earlier highs when leaders in the U.S. House of Representatives said they would support President Barack Obama's plan for a strike on Syria.
Obama is seeking approval from Congress to carry out a military strike after saying U.S. intelligence showed that Syria used chemical weapons which killed more than 1,400 people.
Economically speaking, August auto sales will be reported throughout the day. At 2 p.m. ET, the Federal Reserve will release its Beige Book, a report summarizing economic conditions in the country.
European markets were declining in morning trading, with France's CAC 40 and the DAX in Germany both off by about 0.7% and the FTSE 100 down by 0.6%.
Asian markets were little changed Wednesday. Japan's Nikkei 225 index edged up by 0.5%, the Shanghai Composite index rose by 0.2% and Hong Kong's Hang Seng index edged down by 0.3%.
Oil prices doffed 65 cents to $107.89 U.S. a barrel
Gold prices fell $9.20 to $1,402.80 U.S. an ounce.
