Stock futures pointed to a higher start for Canada's main stock index on Thursday on rumblings in the petroleum industry.
The S&P/TSX composite index moved earthward 172.24 points, or 1.3%, to close the session at 13,463.82, however, futures were up 0.6% Thursday.
The Canadian dollar surged 0.2 cents to 75.15 cents U.S. early Thursday
Oil prices rose after a report sourced to a senior delegate to the Organization of the Petroleum Exporting Countries said Saudi Arabia would propose a deal to balance oil markets with non-OPEC help next year.
Sources say Saudi Arabia, which has so far resisted any market intervention to prop up oil prices, will propose OPEC cut output by one million barrels per day next year
Banks reported today, and Canadian Imperial Bank of Commerce trumpeted a better-than-expected quarterly profit, helped by growth in its retail banking and capital markets segments, and the bank raised its quarterly dividend.
Toronto-Dominion Bank reported a higher quarterly profit as it benefited from growth in its domestic retail and capital markets divisions.
Enbridge raised its quarterly dividend by 14% to 53 cents per share.
Sears Canada said same-store sales rose 0.4% in the third quarter - the first rise in two years - helped by higher sales of major appliances, furniture and mattresses.
CIBC raised the target price on Alimentation Couche-Tard to $76.00 from $74.00
RBC raised the price target on Evertz Technologies to $22.00 from $21.00
BofA Merrill cut the target price on National Bank of Canada to $55.00 from $58.00
ON BAYSTREET
The TSX Venture Exchange dropped 5.9 points to end Wednesday at 514.53.
ON WALLSTREET
U.S. stock futures are rising a bit ahead of the open.
Ahead of the opening bell, futures for the Dow Jones improved 42 points, or 0.2%, to 17,800, futures for the S&P 500 gained 6.25 points, or 0.3%, to 2,087.75, and futures for the NASDAQ jumped 15.75 points, or 0.3%, to 4,710.25.
Shares in Avago Technologies are up about 9% pre-market after the company reported better-than-expected earnings.
Shares in PVH -- the parent company of Calvin Klein and Tommy Hilfiger -- are also rising by about 3% following quarterly results.
And investors could see moves in the beer industry after Anheuser-Busch InBev said it was looking to sell some of SABMiller's premium suds brands as the two companies work to combine their business operations.
At least 14 people were killed and 17 others injured in a mass shooting in San Bernardino, California, the deadliest incident of its kind since the Sandy Hook school shootings in Connecticut in December 2012.
Gun sales have spiked in the wake of previous shooting because they awaken talk of tighter gun controls.
Shares in Smith & Wesson have rallied by 94% since the start of the year and shares in Sturm Ruger are up 52%.
Most European markets are in positive territory in early trading, while Asian markets ended with mixed results.
Oil prices picked up 88 cents to $40.82 U.S. a barrel
Gold prices advanced $3.22 to $1,056.92 U.S. an ounce.
