The Toronto stock market appeared headed for a modest gain at the open Thursday as trading slows ahead of the holiday season.
The Canadian dollar traded higher at 97.63 U.S. cents.
The Conference Board of Canada said early Thursday that consumer confidence has hit its lowest level in more than two and a half years. The think tank says its Index of Consumer Confidence posted a 6.5-point drop in December, bringing 2011 to a disappointing close.
Commodities were largely higher with the February oil contract up 36 cents at $99.03 U.S. a barrel in pre-market trading.
The February gold contract was unchanged at $1,613.60 U.S. an ounce, while copper prices gained three cents to $3.43 U.S.
European stocks rallied as banks led the way, and U.S. stocks appeared ready to open higher amid thinning year-end volume.
Dow futures rose 59 points, or 0.5%, to 12,083, while S&P 500 futures gained 6.7 points, or 0.5%, trading at 1,243, and Nasdaq futures prospered 13.5 points, or 0.6%, to 2,252.50, about half an hour before the New York Stock Exchange opened.
Britain's FTSE 100 rose 1.1%, France's CAC 40 gained 1.3%, and Germany's DAX was 1.1% higher.
Financial stocks led the European market recovery amid indications that the nearly half a trillion euros banks borrowed from the region’s central bank on Wednesday will ease funding strains. The scale of the funding operation initially aggravated concerns about the health of the financial system but was increasingly regarded as having eased pressure on the banks.
Britain's economy grew by a slightly better than anticipated 0.6% in the third quarter, after unexpectedly stalling in the previous three-month period, official figures showed Thursday.
Key euro zone bank-to-bank lending rates fell in response to the lending operation. Three-month Euribor rates, traditionally the main gauge of unsecured interbank euro lending, fell to 1.41% from 1.416%. Longer-term rates also fell.
The euro steadied near $1.3055 (U.S.).
Japan's Nikkei fell 0.7%, while Hong Kong's Hang Seng dipped 0.2%. Global stocks, as measured by MSCI world equity index edged up 0.2%.
