Bay Street May Open With Positive Bias

(RTTNews) - Canadian shares are likely to open with a positive bias on Thursday in reaction to reports that the U.S. and U.K. have agreed on a trade deal. Investors will also be reacting to a slew of corporate earnings announcements, and the Bank of England's interest rate move.

Cenovus Energy reported earnings per share of $47 in the first quarter, compared to $0.62 in the previous quarter.

BCE Inc. reported earnings per share of $0.69 in the first-quarter, compared to $0.72 in the year-ago quarter.

Emera Inc. has reported earnings per share of $1.28 for the first quarter, much higher earnings compared to the previous period.

Shopify's net loss widened to $682 million in the first-quarter from last year's loss of $273 million.

Canadian Natural Resources, Sun Life Financial, Wheaton Precious Metals, Franco-Nevada and Hydro One are slated to announce their earnings today.

The Canadian market closed on a firm note on Wednesday, led by gains in technology, industrials and real estate stocks.

The benchmark S&P/TSX Composite Index closed up 186.46 points or 0.75% at 25,161.18.

Asian stocks rose broadly on Thursday as traders reacted to the Federal Reserve's status-quo rate decision and awaited cues from upcoming trade negotiations between China and the United States.

European stocks are up firmly in positive territory with the U.S. and the U.K. striking a trade deal. Investors are awaiting trade negotiations between China and the U.S., set to take place this weekend.

The Bank of England has cut interest rate by 0.25% as widely expected, amid concerns over the potential shock to global growth due to Trump administration's tariff policies.

In commodities, West Texas Intermediate Crude oil futures are up $1.11 or 1.91% at $59.18 a barrel.

Gold futures are down $32.10 or 0.95% at $3,359.80 an ounce, while Silver futures are lower by $0.216 or 0.66% at $32.575 an ounce.