Stock futures pointed to a higher opening for equities in Toronto on Thursday ahead of quarterly updates from some major companies including SNC Lavalin and Mitel Networks.
The S&P/TSX Composite Index dropped 76.51 points to close Wednesday at 15,543.14. June futures gained 0.2% early Thursday
The Canadian dollar dropped 0.06 cents to 72.77 cents U.S. early Thursday.
Penn West Petroleum Ltd reported a quarterly profit, compared to a year-ago loss, helped by an uptick in crude prices and gains from asset sales.
Canadian Natural Resources, the country's largest independent petroleum producer, reported a first-quarter profit, compared with a loss a year earlier, helped by an uptick in crude prices.
Manulife Financial on Wednesday reported a rise in first-quarter earnings, slightly beating market forecasts with help from strong sales in Asia.
Desjardins raised the target price on Gildan Activewear to $42.00 from $38.00
Raymond James raised the target price on Goeasy to $41.00 from $36.00
BMO raised the target price on Loblaw Companies to $85 from $71
In the economic docket, Statistics Canada reported Thursday morning that Canada’s international merchandise trade balance with the world posted a $135-million deficit in March. Exports rose 3.8% while imports were up 1.7%.
ON BAYSTREET
The TSX Venture Exchange gave back 2.76 points Wednesday to 793.44
ON WALLSTREET
U.S. stock index futures pointed to a higher open on Thursday as traders looked to another big day of earnings and several pieces of data
Ahead of the opening bell, futures for the Dow Jones Industrials gained 47 points, or 0.2%, to 20,926. Futures for the S&P 500 added 5.25 points, or 0.2%, to 2,388.50. NASDAQ futures picked up 18.25 points, or 0.3%, to 5,631.50
Dunkin Brands reported a profit increase of 28% for its first quarter, but the stock fell more than 1% before the bell. Regeneron and Viacom are also among the companies that reported ahead of the open.
Activision Blizzard, CBS, El Pollo Loco and Shake Shack are among companies due to report after the bell.
On the data front jobless claims, international trade and productivity and unit labour costs are all set to come out early morning, followed by factory orders, due a bit later on.
European stocks were substantially higher late morning on the continent. Markets were shuttered in Japan for holidays, while the CSI 300 in Shanghai deducted 0.3%.
Oil prices fell 92 cents to $46.90 U.S. per barrel.
Gold prices tumbled $14.50 to $1,234.00 U.S. an ounce.
