Canadian stocks looked set to open higher on Wednesday, with June futures on the S&P TSX index up 0.08%
The S&P/TSX composite index tumbled 143.26 points, or 1%, to close Tuesday at 14,962.37
The Canadian dollar gained 0.08 cents to 93.15 cents U.S. early Wednesday
First Quantum has delayed investment projects worth more than $1 billion in Zambia due to uncertainty over the fiscal regime in Africa's second biggest copper producer, a director said on Tuesday.
The board of Timmins Gold Corp is standing behind the company's management but plans to shake up its own ranks in the midst of a proxy fight with top shareholder Sentry Investments.
Dundee Capital cut the price target on Africa Oil Corp to $14.70 from $14.80, with a buy rating
NBF cut the rating on AGF Management to sector perform, the price target to $13 from $14
ON BAYSTREET
The TSX Venture Exchange dropped 7.40 points Tuesday to 1,016.58
ON WALLSTREET
Major global stock markets were in negative territory Wednesday, setting the stage for what could be another poor showing in the U.S.
Ahead of the opening bell, futures for the Dow Jones Industrials dipped eight points to 16,744. Futures for the S&P 500 eked up 0.3 points to 1,943.50, and futures for the NASDAQ fell 2.5 points to 3,792.
Vodafone and BlackBerry shares were under a bit of pressure ahead of the open. Tesla shares were gaining some traction.
Investors will get quarterly results from Barnes and Noble, General Mills and Monsanto ahead of the opening bell. Bed Bath and Beyond will report after the close.
Market sentiment could be influenced ahead of the opening bell when the Commerce Department releases revised first quarter GDP numbers The first estimate indicated that the U.S. economy shrank in the first quarter, and economists expect the revision to show an even deeper slump.
Briefing.com predicts the revision will indicate the economy contracted at a -1.8% annual rate. Any number worse than -1.3% will be the single worst quarter for the U.S. economy since the Great Recession.
All major European markets were lower by about 0.5% Wednesday. Asian markets ended in negative territory.
Oil prices gained 42 cents to $106.45 U.S. a barrel
Gold prices slid $7.20 at $1,314.10 U.S. an ounce.
