Stock futures pointed to a higher start for Canada's main stock index on Wednesday ahead of the U.S. Federal Reserve's statement, in which it is expected to signal it remains on track to begin raising interest rates later this year.
The S&P/TSX composite index was positive 36.05 points to close Tuesday at 14,833.88. March futures advanced 0.2% Wednesday.
The Canadian dollar faded 0.21 cents to 80.44 cents U.S. early Wednesday.
Cenovus Energy cut its capital spending budget for 2015 in response to the slump in crude oil prices.
Bombardier’s top executive said he expects the company to receive safety certification from China for its high-speed trains as early as next month, providing a springboard for more orders.
Canadian National Railway reported better-than-expected fourth-quarter earnings on Tuesday and boosted its dividend, but lagged its main Canadian rival when it came to a key efficiency measure.
Royal Bank of Canada, the country's biggest lender, said on Tuesday that it would cut its prime lending rate by 15 basis points, becoming the first of Canada's big banks to trim borrowing costs nearly a week after the central bank stunned markets with a rate cut.
National Bank Financial, Barclays and others raise price targets on grocer Metro Inc.
CIBC cut the price target on Genworth MI Canada to $36.00 from $40.00
ON BAYSTREET
The TSX Venture Exchange moved forward 2.40 points Tuesday to 676.79
ON WALLSTREET
Futures in New York are tentatively higher early Wednesday morning, as tech companies promise to take a bow.
Ahead of the opening bell, futures for the Dow Jones Industrials moved up 28 points, or 0.2%, to 17,406. Futures for the S&P 500 took on 7.25 points, or 0.4%, to 2,037.25, and futures for the NASDAQ gained 43.25 points, or 1%, to 4,220.75.
Shares in Apple are expected to jump at the open after the company posted the biggest profit in corporate history in the last quarter, when it sold 74.5 million iPhones.
Apple's earnings are helping ARM Holdings in London, a company that sells chip designs to Apple and other smartphone makers. Shares in ARM were rising by 2% in London.
Yahoo shares are also expected to soar at the open after the company said it would spin off its remaining stake in Chinese e-retailer Alibaba. The deal is expected to save shareholders $16 billion U.S. in tax, according to Yahoo CEO Marissa Mayer.
Greek markets plunged again, with banks suffering the most, after the country's new anti-austerity government was reported to have canceled a planned privatization -- one condition of its international bailout.
The benchmark Athens index has now fallen nearly 10% already this year. The yield on Greece 10-year government bonds jumped 60 basis points to more than 10%.
European markets were mostly weaker, while Asian markets ended mixed.
Oil prices shaved off 70 cents to $45.53 U.S. a barrel
Gold prices fell $1.70 to $1,290.00 U.S. an ounce.
