Futures pointed to a higher opening for Canada's main stock index on Wednesday as Brent oil prices made gains following a second successive weekly decline in U.S. crude inventories.
The S&P/TSX Composite Index forfeited 14.57 points to close Tuesday at 16,263.16
The Canadian dollar retreated 0.04 cents to 76.04 cents U.S. early Wednesday
September futures vaulted 0.6% Wednesday
The drop was caused by an outage at Syncrude Canada's oil sands facility near Fort McMurray, Alberta, which supplies to the U.S.
Kinder Morgan Canada said in a filing on Tuesday it is restarting construction in August on the Trans Mountain pipeline's expansion after halting work in the spring due to opposition from environmentalists and other groups as Canada prepares to buy the project in a bid to boost the country's oil exports.
The newly elected Ontario government announced on Tuesday it would end the province's cap-and-trade program, a policy designed to reduce greenhouse gas emissions, fulfilling one of Premier Doug Ford's election promises.
National Bank of Canada raised the price target on Innergex Renewable Energy to $19.00 from $18.00
In Japan, the Nikkei 225 dipped 0.3% Wednesday. In Hong Kong, the Hang Seng index faded 1.1%.
Oil prices slid 44 cents to $73.70 U.S. per barrel.
Gold prices strengthened $3.90 to $1,257.40 U.S. an ounce.
ON BAYSTREET
The TSX Venture Exchange inched forward 0.61 points Tuesday to 740.57
ON WALLSTREET
Markets in the U.S. are closed for the Fourth of July holiday
