RTTN: TSX Poised For Higher Open On Greece Bail-out, Commodities
(RTTNews) - Canadian stocks may move higher Thursday on news that European Union has agreed to an aid-package for debt-stricken Greece and on rising commodities prices.
Further, a better than expected jobs number from across the border will also likely to help lift sentiment. The main index closed almost flat in the previous session, after a decent run-up in the earlier session.
The S&P/TSX Composite Index edged up 12.09 points or 0.11% to 11,286.33 Wednesday amid choppy trades.
The price of oil edged up $0.38 to $74.90 a barrel and the price of bullion rose $7.70 to $1,083.50.
In corporate news, oil and natural gas explorer EnCana Corp. (ECA.TO) reported lower fourth-quarter net earnings of $0.85 per share, compared to $1.43 per share in the same quarter last year.
Forest product company Canfor Corp. (CFP.TO) reported fourth quarter net loss of C$0.12 per share, down from C$1.61 per share reported in the year ago period.
Multiple goods retailer Canadian Tire (CTC.TO) reported lower fourth quarter earnings of $1.18 per share, comparted to C$1.24 in the year ago period.
Insurance provider Sun Life Financial (SFL.TO) said its quarterly profits more than doubled.
Wireless network operator Sierra Wireless (SW.TO) slipped into the red reporting a fourth-quarter net loss $0.09 per share compared to profit of $1.12 per share last year.
Natural resources explorer Genco Resources (GGC.TO) announced that Leslie Goodman will replace Robert Gardner as Acting Chief Executive Officer, effective Wednesday.
Bio-pharmaceutical company Transition Therapeutics (TTH.TO) reported second quarter net loss of C$0.26 per share, compared to a loss of C$0.21 per share in the previous year quarter.
Information technology service provider JDS Uniphase Canada (JDU.TO) said it will acquire the network solutions business of Agilent Technologies Inc. for $165 million in cash.
Gold miner Kirkland Lake Gold (KGI.TO) announced the appointment of Mark Stephen Tessier as COO and John Sidney Thomson as chief financial officer.
In economic news from across the border, the U.S. Labor Department said that initial jobless claims fell to 440,000 from the previous week's revised figure of 483,000. Economists had been expecting jobless claims to slip to 465,000.
