Futures on Toronto equity markets pointed to a higher open on Friday on optimism about the health of the global economy and support from central banks.
The S&P/TSX composite index finished 8.77 points to end Thursday at 13,370.83
The Canadian dollar was virtually unchanged at 94.51 cents U.S. early Friday
Caisse de depot et placement du Quebec said on Thursday it has agreed to acquire a 26.7% stake in the Australia's Port of Brisbane from U.S.-based Global Infrastructure Partners, cashing in on rising trade with expanding Asian economies.
National Bank Financial resumed coverage on Artek Exploration with an outperform rating and price target of $6 as the company plans to drill two Doig wells at its Inga project ahead of year end to follow up the successful southern step-out
National Bank Financial raised the price target on Dollarama to $97 from $89, continuing to opine that the company will deliver above-average growth over the next three to five years
Dundee cut the price target on UEX Corp. to $0.80 from $1.70, saying the company has underperformed in almost every time period over the past year.
On the economic front Statistics Canada reported this morning that third-quarter Gross Domestic Product expanded 0.7%, following 0.4% growth in the second quarter. September’s monthly reading came in 0.3% higher, a third consecutive monthly increase.
ON BAYSTREET
The TSX Venture Exchange dropped 2.86 points to conclude Thursday at 926.67
ON WALLSTREET
Stocks are poised to extend their record-breaking run Friday as markets open after the Thanksgiving break for the final trading session of the month.
Ahead of the opening bell, futures for the Dow Jones Industrials picked up 35 points, or 0.2%, to 16,109. Futures for the S&P 500 took on 4.3 points, or 0.2% to 1,808.60, and futures for the NASDAQ hiked 15.5 points, or 0.5%, to 3,484.
U.S. markets were closed Thursday for Thanksgiving and will shut at 1 p.m. ET today.
Retailers could be in focus as Black Friday gets into full swing.
The annual shopping bonanza kicked off earlier than usual, with some of the biggest stores such as Kmart, Wal-Mart, Best Buy, Macy's and Target opening their doors on Thursday evening. Early deals were disappearing fast.
The upbeat start tracks a strong finish for U.S. stocks Wednesday. Solid corporate earnings and continuing bond purchases by the Federal Reserve have helped spur strong buying this month, pushing the Dow and S&P to record highs.
It was a fairly muted day across global markets. Major European stocks were struggling for direction in morning trade, with London's FTSE inching up 0.1%.
Asian markets were mixed, with China's Shanghai Composite edging up, while Japan's Nikkei 225 retreated from a six-year high to close down 0.4%.
Oil prices faded $1.10 to $92.72 U.S. a barrel
Gold prices slipped $4.40 to $1,251.60 U.S. an ounce.
