Stocks in Canada’s largest market opened slightly higher with little impetus ahead of a pivotal U.S. Federal Reserve interest rate decision due later on Thursday.
The S&P/TSX composite index eked up 1.64 points to begin trading Thursday at 13,765.42
The Canadian dollar removed 0.09 cents at 75.84 cents U.S.
Glencore is in talks with Franco-Nevada, Silver Wheaton., Royal Gold and two other companies to sell portions of the future production of three South American copper mines, two sources with knowledge of the talks said. The so-called streaming deals involve Glencore's Antamina and Antapaccay copper mines in Peru, and its Collahausi mine in Chile.
Franco-Nevada shares gained seven cents to $56.58, while Silver Wheaton shares took on 15 cents to $16.41
Alaska could pay $70-$100 million for TransCanada Corp.’s 25% stake in the upstream sector of the proposed Alaska liquefied natural gas project, Governor Bill Walker said.
Walker has recommended to legislators that the U.S. state should buy the upstream stake, adding to a similar stake in a planned liquefaction plant and giving it a quarter-share of the giant 20-million-tonne-per-annum export project.
TransCanada shares inched up six cents to $43.98.
CIBC cut the target price on Pretium Resources to $10.25 from $11.00 after the company announced it has secured a financing package through a combination of a credit facility.
Pretium shares spiked 18 cents, or 2.7%, to $6.94.
Moreover, Gluskin Sheff + Associates Inc reports Q4 earnings today, expecting to have profited 39 cents per share. Gluskin shares acquired 22 cents, or nearly 1%, to $22.92.
On the economic slate, Statistics Canada that those drawing regular employment insurance increased by 10.500 in July, up 2.0% to 545,200. On a year-over-year basis, the number of EI beneficiaries increased by 36,100 or 7.1%.
ON BAYSTREET
The TSX Venture Exchange lost 1.7 points to 551.68
In all, nine of 14 TSX subgroups were lower to begin the session, as telecoms faded 0.5%, financials demurred 0.4%, and utilities slid 0.3%.
The five gainers were led by energy, up 0.9%, with information technology and gold each up 0.4%.
ON WALLSTREET
U.S. stocks traded in a tight range Thursday morning as investors awaited the Federal Reserve's afternoon decision that could hike rates for the first time in nearly a decade.
The Dow Jones industrial average dipped 0.33 points to 16,739.62, with Verizon leading decliners and Johnson & Johnson the greatest advancer.
The S&P 500 dropped 0.33 points to 1,994.98, with telecommunications leading five sectors lower and utilities the greatest advancer.
The NASDAQ index docked 1.89 points to 4,887.35, as Apple fell more than 1%
On the earnings front, Rite Aid reported before the bell. Adobe Systems was expected to report after the bell.
Rite Aid posted quarterly profit of two cents per share, compared to estimates of four cents a share, though revenue was above forecasts. The drug store chain also trimmed its earnings guidance slightly to reflect recent sales trends and additional amortization expense from its acquisition of pharmacy benefits manager EnvisionRX.
The Federal Open Market Committee is scheduled to conclude its two-day meeting with a statement release at 2 p.m., ET, followed by Fed Chair Janet Yellen's press conference at 2:30 p.m.
The central bank could raise short-term interest rates for the first time since 2006.
Wall Street is split over whether the Fed will move Thursday. In all, 49% of financial experts surveyed by media outlets expect a rate hike this month.
In economic news, initial jobless claims declined slightly to 264,000. August housing starts fell about 3%
The Philly Fed Index for September came in at negative 6.0. August's read was positive 8.3.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.28% from Wednesday’s 2.30%. Treasury prices and yields move in opposite directions.
Oil prices inched up 12 cents a barrel to $47.27 U.S.
Gold prices faded $1.80 to $1,117.20 U.S. an ounce.
