Futures pointed to a lower opening for Canada's main stock index on Thursday as U.S. President Donald Trump walked away from a nuclear deal at a summit with North Korea.
The S&P/TSX Composite Index pulled doggedly ahead of Tuesday’s close, gaining 6.39 points to finish Wednesday’s trading at 16,074.30
The Canadian dollar shed 0.14 cents to 75.93 cents U.S. early Thursday
Futures fell 0.1% Thursday.
Encana's quarterly profit topped analyst estimates as the Canadian oil and gas producer saw a 20% rise in output, and sold crude at a 7% higher rate than last year.
Toronto-Dominion Bank and Canadian Imperial Bank of Commerce, two of Canada's biggest lenders, reported first-quarter earnings which fell short of market forecasts.
Air Canada increased its long-term targets for profit margins and free cash flow, as the country's largest airline benefits from cost-cutting efforts and an expansion into new destinations.
CIBC raised the rating on Cogeco Inc. to outperform from neutral
Desjardins cut the target price on Laurentian Bank of Canada to $42.00 from $43.00
RBC raised the rating on Tamarack Valley Energy to outperform from sector perform.
On the economic calendar, Statistics Canada’s industrial product price index declined 0.3% in January, driven primarily by lower prices for energy and petroleum products.
The agency’s raw materials price index rose 3.8%, mainly due to higher prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange lost 3.6 points Wednesday to 620.35
ON WALLSTREET
U.S. stock index futures were lower Thursday morning, after the U.S.-North Korean summit in Vietnam ended without an agreement.
Futures for the Dow Jones Industrial Average slid 25 points, or 0.1%, at 25,983.
Futures for the S&P 500 fell 5.5 points, or 0.2%, to 2,789.50
NASDAQ futures moved lower 22.5 points, or 0.3%, to 7,099.25
In corporate news, AB InBev and PG&E are among the major companies expected to report their latest figures before the opening bell.
Dell, VMWare and Autodesk are all scheduled to publish their latest quarterly results after market close.
President Donald Trump and North Korean leader Kim Jong Unwere unable to reach a deal at the end of two days of meetings in Hanoi, the White House said Thursday.
Earlier Trump and Kim, seated together at a conference table, appeared confident about the prospect of improving diplomatic relations. But, the pair was ultimately unable to agree after the U.S. refused North Korean demands for sanctions relief.
On the data front, a first reading of fourth-quarter real GDP will be released Thursday morning. Chicago Purchasing Managers Index figures for February and Kansas City Federal Reserve's latest survey are both set to follow later in the session.
Overseas, in Japan, the Nikkei 225 slumped 0.8% Thursday, while in Hong Kong, the Hang Seng dropped 0.4%.
Oil prices lost a penny to $56.93 U.S. a barrel.
Gold prices picked up $5.20 to $1,326.40 U.S. an ounce.
