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Lower start in cards for TSX

Scotiabank, Loblaws in focus


Stock futures pointed to a lower opening for Canada's main stock index on Wednesday

The S&P/TSX composite index gained 50.47 points to conclude Tuesday’s business at 14,760.27, with December futures off 0.2%.

The Canadian dollar picked up 0.15 cents to 88.37 cents U.S. early Wednesday.

Bank of Nova Scotia filed with U.S. regulators to offer, from time to time, common shares, preferred shares and debt worth up to $7 billion.

Encana, Canada's largest natural-gas producer, said quarterly operating profit jumped 87% due to higher production of oil and natural gas liquids.

Loblaw Companies reported a 36% jump in third-quarter revenue, helped by strong pharmacy sales at recently acquired Shoppers Drug Mart Corp.

ON BAYSTREET

The TSX Venture Exchange gained a solid 6.79 points Tuesday to 772.29.

ON WALLSTREET

U.S. stock futures are edging lower and European markets are all weaker in early trading.

Ahead of the opening bell, futures for the Dow Jones Industrials moved lower 75 points, or 0.4%, to 17,493. Futures for the S&P 500 dipped 8.25 points, or 0.4%, to 2,028.25, and futures for the NASDAQ fell 13.25 points, or 0.3%, to 4,170.

Stateside, Macy's and SeaWorld are among the major companies reporting earnings before the opening bell.

Cisco System and J.C. Penney will report after the close.

On the economic side, the U.S. Census Bureau will report September wholesale inventories at 10 a.m. ET.

Five major global banks have agreed to pay $3.3 billion U.S. in fines to resolve allegations that they attempted to manipulate foreign exchange rates.

The banks involved -- Citibank, HSBC, JPMorgan Chase, Royal Bank of Scotland and UBS -- are paying fines to regulators in the U.S., U.K. and Switzerland. Barclays refused to settle at this stage, and regulators continue to investigate that bank.

Criminal investigations related to the probe continue in the U.K. and U.S.

Tokyo's Nikkei index hit its highest closing level since 2007 as the Japanese yen continues to weaken. Reports that Prime Minister Shinzo Abe could face a snap election were weighing on the currency.

Oil prices dipped 63 cents to $77.31 U.S. a barrel

Gold prices nicked up $1.20 to $1,164.20 U.S. an ounce.