Futures Move Forward
Futures for Canada''s main stock index rose on Thursday on higher gold prices and as global stocks steadied as a dip in oil prices calmed investor nerves about surging inflation and aggressive policy tightening. The SP|TSX flirted with plus territory by the closing bell Wednesday but concluded downward 15.62 points to 20,713.72. June futures were up 0.3% Thursday. The Canadian dollar nicked up 0.12 cents to 79.06 cents U.S. CIBC raised the target price on Jamieson Wellness to $45.00 from $42.00 CIBC raised the target price on Vermilion Energy to $32.00 from $25.00 ATB Capital Markets raised the target price on WSP Global to $170.00 from $160.00. On the economic calendar, Statistics Canada reported the total value of building permits in Canada declined 0.6% in April to $11.7 billion. Decreases in residential permits (-3.3%) were mostly offset by gains in the non-residential sector ( 5.0%). ON BAYSTREET The TSX Venture Exchange stumbled 15 points, or 2.1%, Wednesday to 705.98. ON WALLSTREET U.S. stock futures were higher on Thursday as markets looked to bounce back from two days of losses.
Futures Move Forward
Futures for Canada''s main stock index rose on Thursday on higher gold prices and as global stocks steadied as a dip in oil prices calmed investor nerves about surging inflation and aggressive policy tightening. The SP|TSX flirted with plus territory by the closing bell Wednesday but concluded downward 15.62 points to 20,713.72. June futures were up 0.3% Thursday. The Canadian dollar nicked up 0.12 cents to 79.06 cents U.S. CIBC raised the target price on Jamieson Wellness to $45.00 from $42.00 CIBC raised the target price on Vermilion Energy to $32.00 from $25.00 ATB Capital Markets raised the target price on WSP Global to $170.00 from $160.00. On the economic calendar, Statistics Canada reported the total value of building permits in Canada declined 0.6% in April to $11.7 billion. Decreases in residential permits (-3.3%) were mostly offset by gains in the non-residential sector ( 5.0%). ON BAYSTREET The TSX Venture Exchange stumbled 15 points, or 2.1%, Wednesday to 705.98. ON WALLSTREET U.S. stock futures were higher on Thursday as markets looked to bounce back from two days of losses.