Canadian stock index futures pointed to a higher open on Thursday as data that showed activity across China's vast factory sector reached a seven-month high eased concerns of a slowdown in the world's second largest economy.
The S&P/TSX composite index dropped 4.74 points to close at 13,243.22, with Thursday futures trading up 0.3%.
The Canadian dollar dipped 0.17 cents to 96.12 cents U.S. early Thursday
Potash Corp of Saskatchewan reduced its outlook for full-year earnings more than Wall Street expected, as buyers backed away from the key fertilizer ingredient potash due to uncertainty caused by the breakup of rival Belarusian Potash Co.
Husky Energy Inc reported a 3% fall in quarterly profit as its refining business was hurt by a sharp drop in market crack spreads, or the price difference between crude oil and the refined product.
Rogers Communications Inc reported a third-quarter profit that topped expectations, on the back of strong results from its cable and wireless business.
Teck Resources Ltd reported a 41% drop in quarterly adjusted profit as higher coal sales volumes failed to offset weaker prices.
Corus Entertainment's profit nearly halved as a rise in specialty advertisement revenue failed to offset weakness in its radio division.
Agnico Eagle Mines reported on Wednesday a 56 percent decline in third-quarter profit due to lower realized metal prices as well as a maintenance shutdown at its Kittila mine in Finland and raised its full-year production forecast.
The Globe and Mail reported on Wednesday that former Apple Inc Chief Executive John Sculley is exploring a joint bid for BlackBerry with Canadian partners.
Cenovus Energy reported a 28% rise in third-quarter profit, driven by higher oil prices and increased volumes.
MEG Energy Corp. said its third-quarter profit more than doubled, driven by a rise in output, lower operating costs and stronger price realizations.
Telus said on Wednesday it has agreed to buy 100% of struggling startup Public Mobile from private equity firm Cartesian Capital and Thomvest Seed Capital, a Toronto-based investment vehicle backed by Peter Thomson.
ON BAYSTREET
The TSX Venture Exchange erased 4.81 points to 966.87
ON WALLSTREET
Investors are hoping the latest data from China will help give stocks a boost Thursday.
Ahead of the opening bell, futures for the Dow Jones Industrials hiked 56 points, or 0.4%, to 15,407. Futures for the S&P 500 advanced five points, or 0.3%, to 1,746.80, and futures for the NASDAQ gained 8.25 points, or 0.3%, to 3,348.25.
Ford shares rallied after the automaker raised guidance and released quarterly earnings and revenue that topped forecasts.
On the downside, shares of Symantec got hammered after the company reported earnings and sales that fell short of estimates, and slashed its guidance. Dow Chemical shares were also under pressure after the company's earnings fell short.
Microsoft, Zynga and Amazon are up in the afternoon.
Investors will also get updates on the U.S. economy Thursday, with the government's weekly report on initial jobless claims due out, and Census Bureau data on new home sales.
Chinese factory activity hit a seven-month high in October, helping European stocks advance in morning trade.
Oil prices inched up five cents to $96.91 U.S. a barrel
Gold prices took on $8.40 to $1,342.40 U.S. an ounce.
