Canadian Shares Seen Opening On Mixed Note

(RTTNews) - Canadian shares are likely to open on a mixed note on Thursday. The market is likely to see some bargain hunting after the previous session's sharp setback.

U.S. inflation data is likely to make a significant impact on the market.

In company news, Endeavour Mining Plc (EDV.TO) reported net earnings of $58 million for the third-quarter of this financial year, compared with net earnings of $189 million in the year-ago quarter.

Brookfield Asset Management Inc. (BAM.TO) reported that its third-quarter operating funds from operations or FFO grew 30 percent to $1.22 billion from last year's $934 million. FFO per Brookfield share was $0.73, up from $0.56 a year ago.

Net income attributable to common shareholders was $423 million or $0.24 per share, down from $797 million or $0.47 per share last year.

The Canadian market ended sharply lower on Wednesday on widespread selling almost right through the day's session.

Worries about growth and caution ahead of the crucial U.S. inflation data weighed on the market. Weak commodity prices hurt as well.

The focus was also on the outcome of U.S. mid-term elections.

The benchmark S&P/TSX Composite Index ended with a loss of 316.06 points or 1.61% at 19,344.25, a few points off the day's low.

Asian stocks ended lower on Thursday, as a surge in COVID-19 cases spurred lockdowns in the southern Chinese manufacturing hub of Guangzhou and uncertainty continued over the outcome of the U.S. midterm elections.

European stocks are turning in a mixed performance with investors reacting to inconclusive U.S. midterm election results and tightening COVID-19 curbs in China.

Traders also await key U.S. inflation data that is expected to show some moderation in price growth.

In commodities trading, West Texas Intermediate Crude oil futures are down $0.33 or 0.38% at $85.50 a barrel.

Gold futures are down $1.90 or 0.11% at $1,711.80 an ounce, while Silver futures are lower by $0.107 or 0.51% at $21.215 an ounce.