Positive Start Likely On Bay Street

(RTTNews) - Canadian shares may open higher Thursday morning, extending recent gains, amid slightly easing concerns about interest rates. The focus will be on U.S. consumer inflation data for clues about the Federal Reserve's monetary policy.

U.S. consumer price inflation data for the month of September is due at 8:30 AM ET.

Barrick Gold Corporation (ABX.TO) reported preliminary production of 1.04 million ounce of gold and 112 million pounds of copper in the third quarter. That was up from about 1.01 million ounces and 107 million ounces in the second quarter.

K92 Mining Inc (KNT.TO) said it expects fourth-quarter gold production will be the strongest for the year, thanks to higher grade stoping and ore development mining sequence.

The Canadian market ended on a strong note on Wednesday, led by gains in communications, consumer discretionary and financials sectors.

Several stocks from real estate, utilities, consumer staples and materials sectors too posted impressive gains.

The benchmark S&P/TSX Composite Index ended with a gain of 162.64 points or 0.83% at 19,663.84, gaining for a fourth straight session.

The market gained amid another drop in bond yields on hopes the tightening cycle by the Federal Reserve is nearing its end.

Asian stocks advanced for a sixth day running on Thursday, with sentiment helped by dovish Fed commentary and move by China's sovereign wealth fund to buy shares of the country's largest banks.

The dollar held near a two-week low amid falling Treasury yields and on the back of less hawkish commentaries by some U.S. policymakers including Boston Fed President Susan Collins and her Atlanta counterpart Raphael Bostic.

European stocks traded at three-week highs on Thursday as dovish views from Federal Reserve officials helped ease concerns around inflation and interest-rate hikes.

Sentiment was also boosted after data showed the U.K. economy recovered in August driven by the service sector rebound.

Gross domestic product grew 0.2 percent in August from July, when the economy contracted by revised 0.6 percent, the Office for National Statistics reported - matching expectations.

On a yearly basis, monthly GDP advanced 0.5 percent, in line with estimate. This was faster than the 0.3 percent growth registered in July.

In commodities, West Texas Intermediate Crude oil futures are up $0.88 or 1.05% at $84.37 a barrel.

Gold futures are up $9.10 or 0.48% at $1,896.40 an ounce, while Silver futures are gaining $0.187 or 0.84% at $22.320 an ounce.