Stock futures pointed to a higher start for Canada's main stock index on Wednesday, taking positive cues from the European markets ahead of the European Central Bank's policy meeting.
The S&P/TSX composite index added 23.37 points to close Tuesday at 15,097.50, with June futures up 0.2% Wednesday.
The Canadian dollar slumped 0.34 cents to 80.28 cents U.S. early Wednesday.
TMX Group Ltd, the operator of Canada's biggest stock exchange, is looking to hire a sales chief as part of a reorganization initiated by recently hired Chief Executive Lou Eccleston.
The Come By Chance refinery, located on the eastern island of Newfoundland, has bought Nigerian oil for the first time in at least a decade, the latest addition to the facility's diverse crude slate, according to Reuters customs data.
BMO raised the price target on Air Canada to $18.00 from $16.00
National Bank Financial raised the target price on RBC to $83.00 from $82.00
Paradigm Capital raised the rating on Wilan Inc. to buy from hold, target price to $5.00 from $3.00
Economically speaking, Statistics Canada reported today that our imports declined 2.5% in April and exports were down 0.7%, meaning Canada's merchandise trade deficit with the world narrowed from $3.9 billion in March to $3.0 billion in April.
ON BAYSTREET
The TSX Venture Exchange fell 1.90 points Tuesday to 689.37
ON WALLSTREET
U.S. stock futures are edging up and European markets are mixed in early trading. Many investors are noting that the markets have been surprisingly calm in the last few weeks.
Ahead of the opening bell, futures for the Dow Jones Industrials bolted higher by 93 points, or 0.5%, to 18,094, futures for the S&P 500 gained 9.75 points, or 0.5%, to 2,116.50, and futures for the NASDAQ picked up 32.25 points, or 0.7%, to 4,535.25.
Shares in Google could see higher trading volume Wednesday as the company holds its annual meeting for shareholders. Some are demanding that the company fully disclose all of its spending on lobbying. There will be a vote on the issue during the day.
Shares in insurance giant Humana are moving up as investors expect it will increase its premiums on some Texas health plans by as much as 30%. Other insurers are proposing similar plans.
It's a relatively quiet schedule for earnings. Vera Bradley is reporting ahead of the open. Five Below and Leapfrog will report after the close.
On the economic side, the U.S. Census Bureau is releasing trade balance data this morning.
Data on crude oil inventories will come out at 10:30 a.m. Ahead of the release, crude prices are declining by about 1% to trade around $60.60 per barrel.
The crisis over Greece's enormous debts is coming to a head. Its international creditors are expected to present an agreed list of reforms to Greek officials later Wednesday, according to reports.
The European Central Bank announces its latest policy decision but is unlikely to make any change. More attention will be focused on what ECB President Mario Draghi has to say about the situation in Greece.
In Asia, most key stock markets declined, but Chinese indexes edged up.
Oil prices sank 97 cents to $60.29 U.S. a barrel
Gold prices dipped $1.90 at $1,192.50 U.S. an ounce.
