Canadian stock index futures pointed to a higher open on Thursday after the European Central Bank cut interest rates to a new record low, in response to a sharp fall in inflation last week.
The S&P/TSX composite index ended Wednesday up 18.70 points to 13,380.41. Futures were up 0.4%.
The Canadian dollar sifted off 0.05 cents to 95.94 cents U.S. early Thursday
BCE Inc, Canada's biggest telecom company, posted a 35% slump in quarterly profit, hurt by hurt by costs related to its $3-billion acquisition of Astral Media earlier this year.
Tim Hortons Inc reported an 8% rise in quarterly profit as same-store sales improved slightly in the United States.
Manulife Financial Corp, Canada's largest life insurer, reported a third-quarter profit that just beat analysts' expectations, driven by strong wealth and mutual fund sales and higher bond yields.
ON BAYSTREET
The TSX Venture Exchange slid 4.38 points to conclude Wednesday at 941.23
ON WALLSTREET
U.S. investors and traders are eagerly anticipating Twitter's debut on the New York Stock Exchange Thursday morning. Twitter priced its initial public offering at $26 a share late Wednesday, raising $1.8 billion U.S.
Ahead of the opening bell, futures for the Dow Jones Industrials climbed 83 points, or 0.5%, at 15,766. Futures for the S&P 500 picked up 7.5 points, or 0.4%, to 1,773.10, and futures for the NASDAQ gained 8.25 points, or 0.2%, to 3,384.25.
J.C. Penney shares rose in pre-market trading after it announced a quarterly increase in same-store sales.
Walt Disney, Groupon and Priceline.com are set to report quarterly results after the market close.
Whole Foods shares sank more than 9% in pre-market trading after a downward revision of its 2014 earnings and sales forecasts.
Qualcomm shares fell 4% before the open, after posting quarterly earnings that fell short of expectations.
The government will release its first estimate of U.S. third quarter GDP at 8:30 a.m. ET, as well as its weekly report on initial jobless claims.
In Europe, the European Central Bank said it cut a key interest rate to 0.25%, a sign of how fragile the European economic recovery is. European stock markets made modest gains at midday, keeping them near five-year highs.
Asian markets ended with modest declines.
Oil prices added 42 cents to $95.22 U.S. a barrel
Gold prices tacked on five dollars to $1,322.80 U.S. an ounce.
