With U.S. markets closed for the Thanksgiving Day holiday, markets in other parts of the world got their chance to shine Thursday, and Canada was set to prove no exception.
The S&P TSX Composite was poised to eke out gains at the open, mirroring a modest rebound in commodity prices, after plunging almost 2% in the previous session.
Stocks to watch this morning include Goldcorp Inc, which said on Wednesday it has entered into a $2-billion credit facility with a syndicate of 15 lenders which will be used to fund growth opportunities and for general corporate purposes.
Mosaid Technologies Inc. posted a second-quarter loss and suspended its dividend payment for the quarter. Mosaid said it incurred a one-time expenses of $4.2 million in the quarter related to a special committee for the sale review.
Sherritt International Corp. announced it had named David Pathe its president and chief executive, replacing the retiring CEO Ian Delaney.
The Canadian dollar traded at 95.74 U.S. cents.
European stocks got a leg up from an unexpectedly positive German business outlook, even as Portugal's debt rating was cut to junk.
Britain's FTSE 100 rose 0.6% to 5,172.08, France's CAC 40 prospered 1,7% to 2,870.37, and Germany's DAX gained 1.7% to 5,550.74
Japan's Nikkei index ended 1.8% lower, while Hong Kong's Hang Seng gained 0.4%.
Germany was the source of market consternation on Wednesday, when its bond auction failed. On Thursday, market sentiment improved after the Ifo Institute's monthly confidence index rose slightly to 106.6 in November from 106.4 the previous month. Analysts had expected a fifth consecutive decline.
Gold rose above $1,700 U.S. an ounce after its decline to one-month lows this week triggered some bargain hunting.
Brent crude rose 54 cents to $107.56 a barrel. U.S. crude gained 53 cents at $96.70 a barrel.
Trading volume is expected to remain thin with the U.S. market closed.
