Stock futures pointed to a higher start for indices in Toronto, taking cues from the U.S. market amid strong quarterly results
The S&P/TSX Composite fell 7.79 points to end Tuesday at 14,524.61
The Canadian dollar capsized 0.21 cents to 76.59 cents U.S. early Wednesday
Brookfield Asset Management aims to pump in about $1 billion into a proposed joint venture with India's top lender State Bank of India that will invest in distressed assets in the South Asian nation. Brookfield will commit about 70 billion rupees to the venture, while SBI will contribute up to 5% of its total investments.
Lundin Mining has been granted an extension until Sept. 15 to make a bid for Freeport-McMoRan Inc's stake in the Tenke Fungurume mine in the Democratic Republic of Congo. The previous deadline was Aug. 8.
Sirius XM Canada Holdings provider said it "strongly disagrees" with a complaint filed by some shareholders in connection with the company's plan to go private. Sirius XM Canada agreed in May to be acquired and taken private by SiriusXM Holdings Inc, its biggest shareholder, along with two of its top Canadian shareholders.
Goldman Sachs cut the rating on Enbridge Inc. to neutral from buy based on light of project delays, more challenging fundamentals in the Bakken and oil sands regions, and increasingly strained financials.
Canadian Pacific Railway reportings Q2 earnings today, expecting to have made $2.01 per share
IMAX Corp. expects Q2 earnings of 17 cents per share
ON BAYSTREET
The TSX Venture Exchange regained 4.88 points Tuesday to 768.62
ON WALLSTREET
U.S. stock-index futures rose on Wednesday as investors cheered better-than-expected earnings from Morgan Stanley.
Ahead of the opening bell, futures for the Dow Jones Industrials took on 53 points, or 0.3%, to 18,533, while futures for the S&P 500 gathered 5.25 points, or 0.2%, to 2,164. NASDAQ futures advanced 13.25 points, or 0.3%, to 4,619.75.
Morgan Stanley topped analysts' estimates for the second quarter, reporting earnings per share of 75 cents and revenue of $8.9 billion U.S.
The day will be another busy one for U.S. second-quarter earnings, with results due from Abbott Labs, American Express, eBay, Intel, Qualcomm, Mattel and United Continental among others.
According to Thomson Reuters, 64% of S&P 500 companies that had reported as of Tuesday morning topped earnings estimates. That compares to a long-term average of 63% over the past 22 years.
Meanwhile, Monsanto termed Bayer's $64-billion U.S. bid inadequate, amid speculation the U.S. seed giant will hold out for a $130 per share offer.
Oil prices slipped 10 cents to $45.55 U.S. a barrel
Gold prices dipped $14.20 at $1,318.10 U.S. an ounce.
