Stock futures for markets in Canada’s largest centre rose on Friday as stronger-than-expected Chinese inflation data eased some concerns about the health of the world's second-biggest economy.
The S&P/TSX Composite recovered from triple-digit losses early in the session to notch gains of 24.74 points to finish Thursday’s trading at 14,643.71. December futures ballooned 0.5% Friday morning.
The Canadian dollar spiked 0.23 cents to 75.98 cents U.S. early Friday.
India's Reliance Communications is selling a 51% stake in its tower assets to Canada's Brookfield Infrastructure Group for 110 billion rupees ($1.65 billion U.S.), in a deal that will help cut the phone carrier's huge debt.
Raymond James raised the target price on Advantage Oil & Gas to $12.75 from $11.00
Desjardins cut the target price on Dragonwave to $3.00
TD Securities raised the target price on Premium Brands Holdings to $77.00 from $75.00
China's producer prices unexpectedly rose in September for the first time in nearly five years thanks to higher commodity prices, welcome news for the government as it struggles to whittle down a growing mountain of corporate debt.
ON BAYSTREET
The TSX Venture Exchange gained a solid 6.95 points Thursday to 777.50
ON WALL STREET
U.S. stock futures recovered from an early flat reading Friday morning, and spread their wings.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 66 points, or 0.4%, to 18,087 while futures for the S&P 500 picked up seven points, or 0.3%, to 2,133.25. NASDAQ futures moved higher 15 points, or 0.3%, at 4,811
Yahoo is down in pre-market trading, after Verizon said Yahoo's massive security breach could have a meaningful financial impact on its decision to buy the company.
Illumina is up 2% pre-market, after nosediving 25% earlier this week. The manufacturer of DNA sequencing equipment said its sales in the third quarter will be lower than expected.
America's biggest banks will post earnings. JP Morgan, Citigroup and Wells Fargo -- still reeling from its fake accounts scandal -- will all report before the opening bell rings in New York
The Census Bureau will post new monthly retail sales data, at the same time as the U.S. Bureau of Labor statistics will update the Producer Price Index with September's figures.
All major European markets opened higher. In Asia, the picture was more mixed.
Chinese consumer prices rose 1.9% year on year in September, the strongest increase in five years. Inflation is up thanks to a weaker yuan and higher prices of commodities, including oil. Producer prices also grew in September, the first increase in almost five years.
The positive reading eased concerns about China's economy after disappointing export data Thursday.
Oil prices gained 28 cents to $50.72 U.S. a barrel
Gold prices dipped $7.10 to $1,250.50 U.S. an ounce.
