Stock futures pointed to a higher opening for Canada's main stock index, supported by speculation that a U.S. rate hike may take longer than expected.
The S&P/TSX composite index sprang back up again 230.66 points, or 1.8%, to finish Wednesday at 13,381.59
The Canadian dollar acquired 0.37 cents to 75.59 cents U.S. early Thursday
Canadian Imperial Bank of Commerce reported a higher third-quarter profit that topped market estimates on Thursday, helped by growth in its retail and wealth management businesses. Net income in the quarter was $978 million, or $2.42 cents per share, compared with $921 million, or $2.26 per share, a year ago. Excluding items, its profit rose to $2.45. Analysts on average had expected earnings of $2.31 a share.
Toronto Dominion Bank reported higher third-quarter earnings that topped market estimates, boosted by gains in its domestic retail and capital markets divisions. Net income rose to $2.27 billion, or $1.19 per share, from $2.11 billion, or $1.11 per share, a year ago.
Excluding items, profit climbed to $1.20 per share. Analysts on average had expected earnings of $1.18 per share
A top court in Greece ruled on Thursday in favour of Eldorado Gold over its disputed goldmine project in the north of the country, though the project was expected to remain on ice for the time being. The decision comes after Prime Minister Alexis Tsipras's leftist government announced last week that it was halting the $1-billion gold mine project run by Eldorado, one of the biggest foreign investments in the country, arguing that the company had violated contractual terms.
Barclays raised target price on Alimentation Couche-Tard to $55.00 from $53.00, saying investors have found solace in owning the stock, despite its relatively healthy valuation, given certain factors which provide earnings downside protection.
RBC cut the rating on Just Energy Group to sector perform from outperform on share price appreciation, believe the risk/return profile is less attractive at current levels.
ON BAYSTREET
The TSX Venture Exchange added 3.16 points to 529.70
ON WALLSTREET
U.S. stock futures were pushing higher, and global markets were bouncing as panic over China's stock market crash eased.
Ahead of the opening bell, futures for the Dow Jones Industrials ballooned 144 points, or 1.9%, to 16,393, futures for the S&P took on 15.25, or 0.8%, to 1,953.25, and futures for the NASDAQ hiked 40.25 points, or 1%, to 4,254.75.
Dollar General Corp. reported better-than-expected earnings for the second quarter, but the company's sales missed analysts' estimates.
Shares of Tiffany & Co. dropped more than 6% in pre-market trading after the company reported weaker-than-expected results for the second quarter and issued a weak forecast.
PVH Corp reported upbeat earnings for the second quarter and lifted its full-year earnings forecast.
Sigma-Aldrich Corporation today announced it has signed an agreement with Public Health England to manufacture and supply bacterial and fungal NCTC/NCPF Certified Reference Materials in LENTICULE® disc format worldwide for use as controls in food, water, environmental and clinical testing microbiology laboratories
Data on GDP growth for the second quarter will released around press time. Pending home sales index for July will be released later on, likewise the Kansas City Fed manufacturing index for August.
In Asian markets, Japan's Nikkei Stock Average rose 1.1% Hong Kong's Hang Seng Index rose 3.6%, and China's Shanghai Composite Index jumped 5.3%.
Oil prices added $1.36 to $39.96 U.S. a barrel
Gold prices inched higher $1.60 to $1,126.20 U.S. an ounce.
