Canada's resource-heavy main stock index was set to open higher on Thursday as commodity prices climbed after solid demand at Spanish and French debt auctions eased investor fears about Europe's sovereign debt crisis.
Among Canadian stocks to watch, oil and gas concern PetroBakken Energy Ltd. said it would sell its 2.2% interest in its non-core southeast Saskatchewan Weyburn assets for $105 million.
Grain handler Viterra reported lower profit than expected for the quarter, weighed down by increased costs at its grain handling facilities and fierce competition in the feed market.
The Canadian dollar popped 0.25 cents higher, trading at 99.11 U.S. cents
Dow futures rose 36 points, or 0.3%, to 12,540. S&P 500 futures moved 6.3 points, or 0.5%, higher to 1,308.50. Nasdaq futures hiked 14.75 points, or 0.6%, to 2,435.25, about half an hour before the opening bell.
Markets perked in Europe, where investors flung money at Spanish and French bonds and bought stocks and commodities that benefit from growth.
Britain's FTSE 100 gained 0.3%, France's CAC 40 rose 0.9% and Germany's DAX rose 0.3%.
Spain raised 6.6-billion euros, far more than its initial aim of 3.5 billion to 4.5 billion euros, in debt maturing in 2016, 2019 and 2022. The interest rate on 10-year bonds was 5.40%, down from 5.54% in the last auction in December.
France sold 7.965 billion euros of medium-term bonds at the top of a target range of 6.5-8.0 billion. It received bids for 18.9 billion euros.
Both auctions come after Standard & Poor's downgraded the countries' sovereign debt ratings on Friday and the European Central Bank flooded banks with cheap money to support lending.
Banking stocks were broadly higher across Europe. Germany's second-largest bank, Commerzbank AG, said it won't need to help from shareholders or the government to boost its capital base.
The euro climbed off Monday's 17-month low against the dollar below $1.27 U.S., trading around two cents higher at $1.2881 U.S.
Japan's Nikkei rose 1%, while Hong Kong's Hang Seng gained 1.3%. Global stocks as measured by the MSCI index were up 0.4% at 312.04, the highest level since Oct. 31.
Copper rose to a four-month high, changing hands at $8,410 U.S. a tonne.
Crude oil rose $1.10 to $101.69 U.S. a barrel.
Gold also gained, up $3.90 at $1,663.80 U.S. an ounce.
