Canada's main stock index futures advanced Thursday after sluggish economic data from China and the U.S. stoked speculation the Federal Reserve will not raise rates until 2016.
The S&P/TSX composite index clung to gains of 30.6 points to close Wednesday at 13,875.33
The Canadian dollar picked up 0.21 cents to 77.52 cents U.S. early Thursday
Linamar Corp is in talks to buy French peer Montupet in a deal that values the company at roughly 800 million euro. Montupet is working with U.S. investment bank Jefferies to negotiate a deal, the sources said, cautioning that no transaction was certain and talks could still fall through. In other news
An Australian regulator raised antitrust concerns over a planned $6.5-billion takeover by Brookfield Asset Management of freight firm Asciano Ltd, potentially jeopardizing the country's biggest inbound deal in four years. The Australian Competition and Consumer Commission said the proposed deal, which would be the largest-ever purchase of an Australian firm by a Canadian company, would give Brookfield Asciano's rail network and train operations in two of the country's eight states.
Transition Therapeutics Inc said detailed data analysis of a study of its experimental drug showed it would benefit a group of Alzheimer's patients. The company said its drug was significantly effective in treating patients with severe agitation and aggression.
Valeant Pharmaceuticals International said it was subpoenaed by U.S. prosecutors seeking information on its pricing decisions, drug distribution and patient assistance programs. The company said it also responded to a letter from U.S. Democratic Senator Claire McCaskill concerning Valeant's heart drugs Nitropress and Isuprel.
National Bank Financial raised the rating on Franco-Nevada to outperform saying the company has the most diversified asset base in the precious metal royalty space.
National Bank Financial raised the target price on Sandstorm Gold to $5.00 from $4.75 considering that the diversification strategy has been picking up earlier-stage royalties on junior exploration projects and smaller royalty companies.
Neptune Technologies & Bioressources Inc reports Q2 figures today, predicting a loss of six cents per share
Economically speaking, the Canadian Real Estate Association was due out with national MLS listing for home sales in September this morning.
ON BAYSTREET
The TSX Venture Exchange added 3.38 points Wednesday to 556.76
ON WALLSTREET
Nearly all global stock markets are rising Thursday and U.S. stock futures are firmly in positive territory.
Ahead of the opening bell, futures for the Dow Jones gained 89 points, or 0.5%, to 16,911, futures for the S&P 500 picked up 14.75 points, or 0.7%, to 1,998.75, and futures for the NASDAQ advanced 36.5 points, or 0.8%, to 4,363.
Netflix stock is declining by about 4% pre-market after the company reported sluggish U.S. growth in the third-quarter.
Shares in Twitter could also take a dip Thursday as investors worry that CEO Jack Dorsey may be spreading himself too thin. Dorsey's other company, Square, announced plans for an initial public offering Wednesday. The mobile payments company will list shares in New York under the ticker symbol "SQ".
Unilever, which owns a range of well-known food and personal care brands, reported better-than-expected earnings and credited ice cream for driving sales.
Quarterly earnings reports will come out this morning from companies includingUnitedHealth, Citigroup, Goldman Sachs and Charles Schwab.
Another batch of companies will report after the market closes, including Mattel, Schlumberger and Wynn Resorts.
The Bureau of Labor Statistics will release this morning its consumer price index for September, which shows national inflation levels. Inflation has been lagging behind the Federal Reserve's target of 2%.
And weekly jobless claims data will be released by the U.S. Department of Labor.
At 10:30 a.m. ET, weekly data on natural gas inventories will come out, just before crude inventory data is released at 11 a.m.
Oil prices dipped 48 cents to $46.16 U.S. a barrel
Gold prices acquired $2.01 to $1,186.14 U.S. an ounce.
