Stock futures pointed to a higher opening for Canada's main stock index as Greece's offer of a new reform plan raised hopes of a bailout
Toronto’s S&P/TSX composite index surrendered 133.58 points to close Thursday at 14,278.49
The Canadian dollar dipped 0.03 cents to 78.66 cents U.S. Friday
Loblaw Companies said its employees in 69 stores in Ontario have voted to accept a six-year contract, and all ongoing and pending strikes have been canceled. Loblaw said the terms of the contract provide employees and the company "a fair deal and security." Strikes commenced on July 2 in nine stores and strikes scheduled to commence in 60 additional stores on July 11 have been canceled, Loblaw said.
Teck Resources Ltd agreed to sell future output from its Chile mine to Royal Gold Inc for $525 million upfront payment and 15 percent of monthly average gold price at each delivery. Under the offtake agreement, Teck will sell all the payable gold produced from the Carmen de Andacollo mine to Royal Gold until 900,000 ounces have been delivered on a monthly basis.
National Bank Financial raised the target price on MTY Food Group to $36 as the company delivered a solid second quarter performance as very strong corporate store revenues and in-line margins carried through to the bottom line.
On the economic beat, Statistics Canada reported this morning that employment was down 6,400 in June, as gains in full-time work were offset by losses in part-time. The unemployment rate held steady at 6.8% for the fifth consecutive month.
Following gains of 63,000, or 0.4%, in the first quarter of 2015, employment grew by 33,000, or 0.2%, in the second quarter. Full-time work increased by 143,000 in the second quarter, while part-time work declined by 110,000 over the same period.
ON BAYSTREET
The TSX Venture Exchange lost 0.98 points Thursday to 636.71
.
ON WALLSTREET
It looks like stock markets around the world might close out the week with some healthy gains.
Ahead of the opening bell, futures for the Dow Jones Industrials skyrocketed 185 points, or 1.1%, to 17,637, futures for the S&P 500 hiked 25.25 points, or 1.2%, to 2,066.50, and futures for the NASDAQ gained 55 points, or 1.3%, to 4,394.50
On Friday, Greek lawmakers are voting on proposals to reform the nation's economy. If this doesn't go well, markets will react harshly. If they're approved, those proposals will be sent to European lenders, who will consider them at meetings over the weekend.
Many European markets are climbing by about 1% to 2% in early trading. The French CAC 40 index is leading the way, up 2.3%.
Nearly all Asian markets ended the day in positive territory as concerns about Chinese markets subsided.
Oil prices acquired 26 cents to $53.04 U.S. a barrel
Gold prices gained $2.50 at $1,161.70 U.S. an ounce.
