Equity markets in Toronto looked set to extend previous session's gains on Wednesday as positive U.S. and euro-zone data pointed to a gradual global economic recovery.
The S&P/TSX composite index jumped 101.39 points to close Tuesday at 13,596.93, with futures up 0.1%
The Canadian dollar continued to get hammered, losing 0.26 cents to 92.61 cents U.S. early Wednesday
National Bank Financial raised the price target on Lake Shore Gold to 80 cents from 70 after the company reported record 2013 production, driven by better-than-expected fourth-quarter operating results
National also cut the rating on Colabor Group to sector perform from outperform following the company's share price depreciation
Economically speaking, euro-zone unemployment was unchanged at a record high for the eighth month in a row in November, data showed, but retail sales made the biggest monthly jump in 12 years.
ON BAYSTREET
The TSX Venture Exchange gained 3.78 points to end Tuesday at 949.83
ON WALLSTREET
Investors were on hold early Wednesday, ahead of the latest U.S. economic reports.
Ahead of the opening bell, futures for the Dow Jones Industrials dipped nine points to 16,445. Futures for the S&P 500 fell 1.7 points to 1,829, and futures for the NASDAQ eked up 0.25 points to 3,549.
Investors got a preview Wednesday of Friday’s monthly jobs report due later this week, as payroll processor ADP released private-sector payroll data showing the economy added 238,000 jobs in December.
The U.S. Federal Reserve will release the minutes of its most recent policy meeting at 2 p.m. ET, followed by its monthly report on consumer credit at 3 p.m. ET.
In corporate news, agrochemical giant Monsanto is scheduled to report quarterly results in the morning, while Bed Bath & Beyond is set to report after the bell.
Shares for The Container Store plunged in pre-market trading after the retailer reported a loss.
Shares of Ford rose in after the automaker said late Tuesday that CEO Alan Mulally is not leaving the company for Microsoft
Micron Technology shares surged following quarterly earnings that beat expectations.
On the international front, European markets slipped lower in morning trading.
Most Asian markets closed the session with gains. The Nikkei 225 in Japan jumped by nearly 2% and the Hang Seng in Hong Kong moved up by 1.3%.
Oil prices added 26 cents to $93.93 U.S. a barrel
Gold prices dipped $1.90 at $1,227.70 U.S. an ounce.
