Canada's main stock index was set to open lower on Friday as expectations of continued U.S. monetary stimulus was eclipsed by worries that tighter cash markets in China could put the brakes on the world's second-largest economy.
The S&P/TSX composite index gained 81.43 points to conclude Thursday at 13,324.75
The Canadian dollar doffed 0.20 cents to 95.79 cents U.S. early Friday
Billionaire investor William Ackman announced on Thursday said he sold six million shares in CP Rail after a huge run-up in the stock, adding a large pile of cash to his $11 billion hedge fund.
Maple Leaf Foods has launched an auction for its bakery company Canada Bread , targeting Grupo Bimbo, one of the world's largest bread makers, as well as private equity.
Saputo looked likely to triumph in the battle for Australia's Warrnambool Cheese and Butter Factory Company Holdings Ltd after hiking its bid by 14% to A$449 million.
ON BAYSTREET
The TSX Venture Exchange grew 5.72 points Thursday to 972.59
ON WALLSTREET
Tech stocks were in the spotlight on Friday, driven higher in premarket trading by strong earnings that managed to push the tech-heavy NASDAQ into modest gains.
Ahead of the opening bell, futures for the Dow Jones Industrials faded five points to 15,449. Futures for the S&P 500 inched up 0.3 points to 1,748.80, and futures for the NASDAQ advanced nine points, or 0.3%, to 3,380.
Shares of Amazon and Zynga jumped after both companies' sales and earnings reports beat expectations late Thursday.
And Microsoft shares rose after the company reported a rise in quarterly sales and profits that also trounced Wall Street's forecasts.
Twitter revealed that it plans to raise upwards of $1.4 billion U.S. in its initial public offering, selling 70 million shares at between $17 and $20 U.S. per share.
Procter & Gamble announced that its sales and profit rose in the quarter, as expected, and their shares slipped in premarket trading. UPS shares rose after the company reported quarterly income that exceeded forecasts.
The U.S. Census Bureau revealed durable goods orders jumped 3.7% in September, versus 0.2% in August, while the University of Michigan and Thomson Reuters was to issue their consumer sentiment survey at 9:55 a.m. ET.
European markets were mostly higher in morning trading, with modest gains after the U.K.'s third quarter GDP report met expectations.
Stocks in Asia were hit by a weaker yen and concerns over tighter liquidity in China. Japan's Nikkei 225 declined 2.8%, while the Shanghai Composite and Hang Seng also closed lower.
Oil prices gained 12 cents to $97.23 U.S. a barrel
Gold prices fell $11.60 to $1,338.70 U.S. an ounce.
