Stock futures pointed to a higher opening for the Toronto stock markets on Thursday, tracking gains in oil prices after the International Energy Agency raised its 2016 global oil demand forecast.
The S&P/TSX Composite Index added 13.02 points to close Wednesday at 13,788.21. June futures rocketed 0.7% higher Thursday morning.
The Canadian dollar tacked on 0.09 cents to 77.9 cents U.S. early Thursday.
Enbridge Inc. reported a quarterly profit, compared with a year-ago loss, as crude shipments increased.
Crescent Point Energy reported a bigger quarterly loss due to weak oil prices.
Acumen raised the price target on Alaris Royalty to $36.00 from $35.00
National Bank Financial cut the target price on Element Financial to $22.00 from $25.00
BMO raised the rating on Silver Wheaton to outperform
On things economic, Statistics Canada reported that its new housing price index rose 0.2% in March, following an identical increase in February.
The index has increased for 12 consecutive months, largely driven by higher new housing prices in Ontario and British Columbia.
ON BAYSTREET
The TSX Venture Exchange gathered 8.36 points Wednesday to 669.46.
ON WALLSTREET
U.S. stock futures are pointing up, but it's a different story overseas.
Ahead of the opening bell, futures for the Dow Jones Industrials moved skyward 86 points, or 0.5%, to 17,745, while futures for the S&P 500 leaped 13 points, or 0.6%, to 2,071. NASDAQ futures jumped 25.25 points, or 0.6%, to 4,376.75
It's a big day for retail reporting. Kohl's and Ralph Lauren are among the companies reporting before the bell. Nordstrom, Dillard's and Shake Shack are reporting after the close.
Most European markets are dipping in early trading. Asian markets ended with mixed results.
The Bank of England is issuing its rate decision for the U.K. economy. It's widely expected to keep rates on hold. Investors will also be watching for any comments from the central bank about the upcoming U.K. referendum on the nation's European Union membership.
Nissan says it will pay $2.2 billion U.S. for a 34% stake in its embattled competitor, Mitsubishi Motors. Shares in Mitsubishi surged by 16% Thursday in reaction to the purchase. The stock had tanked by more than 50% in recent weeks after Mitsubishi revealed it had cheated on fuel efficiency tests for the past quarter century.
Staying with the autos theme -- a probe of Germany's Volkswagen has cleared top executives of any "serious and manifest" wrongdoing in its own emissions scandal. The investigation is ongoing
Oil prices added 60 cents to $46.83 U.S. a barrel
Gold prices dropped $9.46 to $1,267.75 U.S. an ounce.
