Futures pointed to a higher opening for Canada's main stock index on Thursday.
The S&P/TSX composite index surrendered 51.01 points, to end Wednesday’s session at 15,082.84. Futures inched up 0.2%. Thursday
The Canadian dollar faded 0.17 cents to 80.33 cents U.S. early Thursday.
Canadian Natural Resources posted a better-than-expected quarterly profit, helped by higher production, and the country's number-two oil and gas producer raised its dividend.
Encana Corp., Canada's largest natural gas producer, said on Wednesday it plans to raise up to $1.44 billion through a secondary share issue as the company looks to bolster a balance sheet weakened by low oil and natural gas prices.
RBC cut the price target on Kinross Gold to $3.25 from $4.00
Canaccord Genuity cut the rating on Linamar Corp to hold from buy
CIBC raised the price target on Semafo Inc. to $5.50 from $5.00
On the economic calendar, Western University is set to reveal its Ivey purchasing managers’ index for January around 10 a.m.
ON BAYSTREET
The TSX Venture Exchange slumped 4.21 points Wednesday to 698.09
ON WALLSTREET
U.S. stock futures are relatively steady heading into Thursday.
Ahead of the opening bell, futures for the Dow Jones Industrials spiked 60 points, or 0.3%, to 18,146. Futures for the S&P 500 moved higher by 6.5 points, or 0.3%, to 2,103, and futures for the NASDAQ hiked 12.25 points, or 0.3%, to 4,456.50.
Shares in AbbVie are popping up premarket after the drug maker said it was paying $21 billion U.S. to buy Pharmacyclics, giving it more access to drugs that treat cancer.
Investors are being urged to watch out for potential moves from Costco and Kroger, which are both reporting earnings ahead of the open.
There could also be some market reaction to the U.S. Department of Labor’s posting of weekly jobless claims.
Overseas, the European Central Bank is in the spotlight Thursday as it issues its latest rate decision.
Rates won't change but ECB President Mario Draghi is expected to provide more details of the bank's €1.1-trillion stimulus program for the region and discuss the latest situation in Greece.
China has set a target for about 7% economic growth in 2015, lower than its goal of 7.5% for 2014.
China's parliament began its annual meeting Thursday, providing an overview of China's policy priorities in the year ahead. The meetings also give outsiders a rare insight into the workings of Chinese politics.
Over the course of the day, both the Shanghai Composite index and the Hang Seng in Hong Kong declined by about 1%.
Oil prices were up 0.8% to $51.93 U.S. a barrel
Gold prices inched up 0.1% $1,202.50 U.S. an ounce.
