Equities in Canada’s largest market were due for a fall Thursday even as oil prices steadied after U.S. data showed a big fall in crude stockpiles.
The S&P/TSX Composite Index slid 15.63 points to close Wednesday at 15,082.21. September futures crept up 0.2% on Thursday morning.
The Canadian dollar dipped 0.02 cents to 79.18 cents U.S. Thursday morning.
Sears Canada Inc, which filed for creditor protection in June, said in a staff memo Executive Chairman Brandon Stranzl had stepped away from day-to-day operations to focus on plans for the retailer to continue as a going concern.
CIBC cut the target price on Metro Inc. to $46.00 from $48.00
National Bank of Canada cut the rating on Prometic Life Sciences to sector perform
Raymond James cut the rating on RMP Energy to underperform from market perform
On matters macroeconomic, Statistics Canada reported manufacturing sales fell 1.8% to $53.9 billion in June, following three consecutive monthly gains.
ON BAYSTREET
The TSX Venture Exchange ditched 0.38 points Wednesday to 769.49
ON WALLSTREET
U.S. stock index futures pointed to a slightly lower open on Thursday, as political turbulence coming from the White House capped gains in global trading.
Ahead of the opening bell, futures for the Dow Jones Industrials let go of 50 points, or 0.2%, to 21,961. Futures for the S&P 500 fell 5.75 points, or 0.2%, to 2,461.75. NASDAQ futures gave back 24 points, or 0.4%, to 5,899
Ross Stores and Gap are among the companies reporting earnings today.
Tensions may appear to show signs of receding between the U.S. and North Korea, however, storm clouds seem to be brewing domestically.
U.S. President Donald Trump has disbanded two corporate advisory councils in the wake of receiving backlash from his statements surrounding the white supremacist rally seen in Virginia over the past weekend.
Stepping aside from politics, jobless claims and the Philadelphia Fed's Manufacturing Business Outlook Survey, as well as industrial production were due out this morning.
Overseas, markets in Europe were under pressure around noon on the continent, while Japan’s Nikkei 225 slid 0.1% and the CSI 300 in Shanghai gained 0.5%
Oil prices lost 17 cents to $46.61 U.S. per barrel.
Gold prices gained $8.60 to $1,291.50 U.S. an ounce.
