Stock futures for Canada's main equity index were higher on Wednesday as oil prices jumped after U.S. President Donald Trump pulled the United States out of a nuclear agreement with Iran.
The S&P/TSX Composite Index fought its way to gains of 34.08 points to close Tuesday at 15,842.71
The Canadian dollar jumped 0.42 cents to 77.63 cents U.S. early Wednesday
June futures moved forward 0.3% Wednesday
Enbridge said on Wednesday it would sell a 49% stake in some North American and German renewable power assets for $1.75 billion to the Canada Pension Plan Investment Board.
Sun Life Financial's quarterly profit beat analysts' estimates on Tuesday as the company sold more managed funds and paid lower tax rates for its U.S. business.
CIBC cut the price target on Alaris Royalty to $18.00 from $21.00
RBC cut the target price on Liquor Stores NA to $9.00 from $10.00
Canaccord Genuity raised the price target on Surge Energy to $3.50 from $3.25
On the economic beat, Statistics Canada reported that the value of building permits issued by Canadian municipalities increased 3.1% to $8.4 billion in March, following a 2.8% decline in February
The agency went on to attribute the hike to higher construction intentions for multi-family dwellings, particularly in Quebec and British Columbia, and by the commercial component.
ON BAYSTREET
The TSX Venture Exchange dropped 3.74 points Tuesday to 770.82
ON WALLSTREET
U.S. stock index futures ticked higher ahead of Wednesday's open, as markets reacted to President Donald Trump's decision to pull out of the nuclear deal with Iran.
Futures for the Dow Jones Industrial Average gained 96 points, or 0.4%, to 24,403
S&P 500 futures picked up 8.5 points, or 0.3%, to 2,678.75, while futures for the NASDAQ composite index gathered 16 points, or 0.2%, to 6,836.50
The moves in pre-market trade came as global markets remained jittery following news that the U.S. would be exiting the 2015 nuclear accord with Iran.
Trump said Tuesday that the U.S. would be walking away from the Iran deal and that sanctions on the Middle Eastern country would be reinstated. In the run-up to the 2016 presidential election, this was a campaign promise that Trump had pledged.
Oil prices rallied on the news, pumping up energy stocks, as Chevron and Exxon Mobil rose more than 1% in the pre-market
On the data front, the producer price index is scheduled for release at 8:30 a.m. ET and wholesale trade figures at 10 a.m. ET.
In Japan, the Nikkei 225 fell 0.4%, while in Hong Kong, the Hang Seng index eased 0.2%, while in Europe, eked out slight gains during the morning session.
Oil prices reacquired $1.81 to $70.87 U.S. per barrel.
Gold prices dipped $1.50 to $1,312.20 U.S. an ounce.
