Stock futures pointed to a flat opening for Canada's main stock index as oil prices steadied and investors awaited manufacturing and auto sales data.
The S&P/TSX Composite climbed 83.04 points to finish at 15,082.85
The Canadian dollar gained 0.19 cents to 74.61 U.S. early Thursday.
Canadian Western Bank reported a 9.7% fall in its fourth-quarter earnings as low commodity prices weighed on its oil and gas loan portfolio.
Canadian Imperial Bank of Commerce reported a better-than-expected quarterly profit, driven by strong performance in its capital markets business. The bank's total net income rose to $931 million, or $2.32 per share, from $778 million, or $1.93 cents per share, a year earlier.
Toronto-Dominion Bank reported a rise in fourth-quarter earnings, driven by strong growth in the United States. The bank said its earnings rose to $1.22 per share in the fourth quarter to Oct.31, up from $1.14 in the same period the year before. Analysts on average had expected earnings of $1.22.
Performance Sports Group said bankruptcy courts in the United States and Canada have approved the stalking horse bid for the company, made by Sagard Capital Partners LP and Fairfax Financial Holdings Ltd. Sagard and Fairfax intend to buy most of the Bauer ice hockey gear maker's assets and its North American units for $575 million.
CIBC raised the target price on Continental Gold to $5.00 from $4.50, recognizing a positive development in receiving an environmental permit for the Buritica project in Antioquia.
CIBC raised the target price on Lundin Mining to $7.00 from $6.00, citing the company’s improved production and costs guidance.
CIBC raised the target price on Tourmaline Oil to $45.00 from $40.00, following the close of acquisition of Shell's Alberta Deep Basin and
NEBC Montney lands.
In economic news, the RBC Markit Purchasing Managers Index is due out later this morning for November.
ON BAYSTREET
The TSX Venture Exchange remained higher 2.06 points Wednesday to 736.97
ON WALLSTREET
U.S. stock index futures pointed to a flat open on Thursday as traders focused on the oil situation, a batch of data and corporate earnings.
Ahead of the opening bell, futures for the Dow Jones Industrials dipped two points to 19,130. Futures for the S&P 500 settled 1.75 points, or 0.1%, to 2,197. NASDAQ futures slipped 7.5 points, or 0.2%, to 4,808.50
On the earnings front, Dollar General and Kroger both reported before the bell. Ulta Salon, Workday, Ambarella and Five Below are among companies due to report after the bell.
On the data front Thursday, initial claims and manufacturing Purchasing Managers Index are due this morning. The Institute for Supply Management index and construction spending are set to come out later this morning, while vehicle sales are also due to be released on Thursday.
On Wednesday, the Organization of the Petroleum Exporting Countries agreed to its first oil production cut in eight years, triggering a rally in oil prices.
Markets in Europe were marginally lower in early afternoon trade, while in Asia, the Shanghai composite in China closed 0.7% higher on Thursday, while the Nikkei in Japan closed 1.1% higher.
Oil prices advanced 92 cents to $50.36 U.S. a barrel
Gold prices slumped $2.70 at $1,171.20 U.S. an ounce.
