Bay Street Likely To Open On Mixed Note
(RTTNews) - Canadian shares are likely to open on a mixed note on Thursday, tracking earnings updates, and commodity prices. The end to the U.S. government shutdown following President Donald Trump signing a short term bill is likely to aid sentiment.
In earnings news, Hydro One Ltd. (H.TO) reported third quarter net income of C$421 million, compared to C$371 million in the previous year. Earnings per share were $0.70 versus $0.62 last year.
Manulife, Power Corporation of Canada, Linamar, Dream Unlimited and Pan American Silver Corp have reported higher earnings per share for the third-quarter, compared to a year ago.
The Canadian market closed on a buoyant note on Wednesday as political developments in the U.S. to end the shutdown revived market sentiments and improved risk appetite both in the U.S. and Canada.
The benchmark S&P/TSX Composite Index moved steadily higher over the course of the morning and remained firmly positive throughout the after before finally closing at 30,827.58, up by 418.33 or 1.38%.
Asian stocks closed higher, tracking the positive sentiment created by the end of the longest-ever U.S. government shutdown. Chinese Government's plans to unveil a comprehensive strategy to boost the new energy battery industry and enhance related infrastructure also supported sentiment.
European stocks pared early gains with investors reacting to a slew of earnings news and economic data, and looking ahead to some crucial economic reports from the U.S.
In commodities trading, West Texas Intermediate Crude oil futures are up $0.30 or 0.51% at $58.79 a barrel.
Gold futures are gaining $26.10 or 0.62% at $4,239.70 an ounce, while Silver futures are up $0.523 or 0.98% at $53.980 an ounce.
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