Canada index futures advanced, as investors took respite after a massive selloff in risky assets and absorbed Republican Donald Trump's U.S. presidential win.
The S&P/TSX Composite stayed positive 103.07 points to close Wednesday at 14,759.91
The Canadian dollar fell 0.28 cents to 74.21 cents U.S. early Thursday.
Bombardier reported a lower-than-expected adjusted net loss and said it expected to finish the year with improved operating margins in all of its businesses.
Canadian Tire’s quarterly profit fell 11.7% as lower gasoline prices hurt petroleum retail revenue. Net income attributable to the company fell to $176.4 million, or $2.44 per share, from $199.7 million, or $2.62 per share, a year earlier.
Crescent Point Energy reported a smaller quarterly loss, helped by lower costs. The company's net loss narrowed to $108.5 million, or 21 cents per share, from $201.3 million, or 40 cents per share, a year earlier.
Manulife Financial reported a better-than-expected quarterly profit, primarily driven by growth in Asia. Core earnings in its Asia business rose 16.6% in the third quarter, from a year earlier.
Sun Life Financial reported a better-than-expected quarterly profit on Wednesday, fueled by strong growth in the United States and Canada.
Valeant Pharmaceuticals International said on Wednesday it received an investigative subpoena from the California Department of Insurance in September over its ties to pharmacies and marketing.
Barclays raised the price target on CGI Group to $75.00 from $68.00, saying ongoing organic revenue and margin improvement should drive earnings and FCF growth.
National Bank Financial cut the rating on Newalta Corp to sector perform from outperform.
On the economic slate, Statistics Canada’s new housing price index rose 0.2% in September compared with the previous month.
Prices rose in 11 census metropolitan areas, with the indexes from the combined region of Toronto and Oshawa and from Vancouver contributing the most to the monthly increase.
ON BAYSTREET
The TSX Venture Exchange faltered 3.65 points Wednesday to 753.20
ON WALLSTREET
U.S. stock index futures pointed to a higher open on Thursday as traders digested Tuesday's presidential election.
Ahead of the opening bell, futures for the Dow Jones Industrials took on 105 points, or 0.6%, to 18,639. Futures for the S&P 500 moved up 12 points, or 0.6%, to 2,172.25. NASDAQ futures shot up 33 points, or 0.7%, to 4,853.50
While there's still an edge of uncertainty, on Wednesday markets chose to focus on elements from Trump's acceptance speech, in which he discussed spending on infrastructure projects that could boost growth.
That drove industrials and infrastructure stocks higher, and raised speculation about inflation. That helped drive bond yields higher, as well as bank stocks.
On the earnings front, Kohl's, Macy's and Ralph Lauren all reported before the bell. Disney, Michael Kors, Nordstrom and Petrobras are due to report after the bell.
On the data front, jobless claims came in at 254,000, with the Federal budget due at 2:00 p.m.
European markets were generally higher, while in Asia, the Shanghai Composite in China closed 1.4% higher, while the Nikkei in Japan closed 6.7% higher.
Oil prices slid 56 cents to $44.71 U.S. a barrel
Gold prices gained $4.80 at $1,278.30 U.S. an ounce.
