March futures on the S&P/TSX index were down 0.4% at 06:41 a.m. ET. Still, the TSX is set for its third straight week in positive territory, eyeing a 1.2% weekly gain.
Oil prices rose after the International Energy Agency said oil markets were tight but were still heading for weekly losses on inflation worries and U.S.-Iran which could boost global supplies. [O/R]
The Toronto Stock Exchange’s S&P/TSX composite index ended 0.3% lower on Thursday. (TO)
Dow e-minis were down 152 points, or 0.43% at 06:41 a.m. ET, while S&P 500 e-minis were down 21.75 points, or 0.48% and Nasdaq 100 e-minis were down 102 points, or 0.69%. [.N]
TOP STORIES [TOP/CAN]
Auto parts maker Magna International (NYSE:MGA) Inc reported a 13.7% fall in quarterly revenue on Friday, hammered by semiconductor shortages that have wreaked havoc on global automobile production.
Canadian oil companies exported a record amount of crude out of the U.S. Gulf Coast at the end of 2021, a trend that should continue in the coming months, as tight international oil markets are in need of the nation’s heavy, sour crude.
Canada will seek to join the United Kingdom, the U.S. and Australia to be included in consultations as part of the European Union’s dispute with China at the World Trade Organization over Beijing’s alleged trade curbs on Lithuania.
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Constellation Software Inc: RBC raises target price to C$2,800 from C$2,700
Definity Financial Corp: RBC raises target price to C$35 from C$32
Precision Drilling (NYSE:PDS) Corp: Atb Capital Markets raises target to C$98 from C$91
Telus (NYSE:TU) Corp: National Bank of Canada (OTC:NTIOF) raises target price to C$36 from C$35
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,826.9; -0.5% [GOL/]
US crude: $90.58; +0.78% [O/R]
Brent crude: $91.99; +0.63% [O/R]
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report (TO)
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
($1= C$1.2725)
Source: Economy - investing.com
