Lower open seen for Toronto

Baystreet Stock Market Update (Canada) |

Talisman, Turquoise in focus

Canadian stocks looked set to open lower on Thursday, with futures on the S&P TSX index down 0.04\%.

The S&P/TSX composite index gained 12.28 points to close Wednesday at 14,974.65

The Canadian dollar inched forward 0.04 cents to 93.32 cents U.S. early Thursday

Talisman Energy said on Wednesday it plans to sell its stakes in two oilfields in the Timor Sea off the coast of Australia as Canada's number-five independent oil producer continues to restructure its global petroleum properties.

Turquoise Hill Resources said it filed a notice of dispute with the Government of Mongolia, after tax authorities in that country claimed unpaid taxes and penalties related to the development of the Oyu Tolgoi copper and gold mine.

A backlash against a management-led buyout of Tuckamore Capital Management grew on Wednesday, with another large investor, JC Clark, stating that it plans to vote the shares it controls against the proposed deal.

CIBC raised the price target on Bonterra Energy to $74 from $68

ON BAYSTREET

The TSX Venture Exchange dropped 1.61 points Wednesday to 1,014.97

ON WALLSTREET

U.S. stock futures were little changed from Wednesday's close.



Ahead of the opening bell, futures for the Dow Jones Industrials inched up five points to 16,776. Futures for the S&P 500 nicked up 0.2 points to 1,949.60, and futures for the NASDAQ gained 2.75 points to 3,817.50.

Shares in Barclays are down by 5\% in London after the New York Attorney General said Wednesday it is suing the bank over a lack of transparency in some of its alternative trading platforms. The suit says the bank misled investors and is seeking damages. Barclays stock is off by nearly 20\% since the start of the year.

Investors can start trading GoPro shares Thursday after the company completed its initial public offering. The consumer electronics company will be trading on the Nasdaq under the ticker symbol "GPRO."

On Wednesday evening, GoPro priced shares at $24 U.S. apiece, the high end of the expected range of $21 to $24 U.S. This raised roughly $425 million U.S.

Consulting firm Accenture will release quarterly results before the opening bell. Nike will report after the close

The U.S. government will post weekly jobless claims this morning. At the same time, it will also issue data on personal spending and income.

European markets were all moving higher in early trading, while Asian markets mostly ended with gains. The Hang Seng in Hong Kong was a standout performer -- rising by 1.4\% during the day.

Oil prices dipped 19 cents to $106.31 U.S. a barrel

Gold prices dropped $14.50 at $1,308.10 U.S. an ounce.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
UPPR Upper Street Mktng Inc 0.59 0.01 1.72 12,116

Comments

Emerging Growth

Veritas Pharma Inc.

Veritas Pharma Inc, formerly Seashore Organic Medicine Inc is an emerging producer and distributor of medical marijuana.

Private Markets

Cross Campus

With over 500 members and operating 80,000 square feet by summer 2016, Cross Campus is one of the country’s top ten shared, collaborative office or "coworking" operators in the US.…

Almond Smart Home Router by Securifi

Securifi sells user friendly touch screen routers that also have support for IoT/home automation.Securifi’s Almond revolutionized wireless router setup with its easy to use Touchscreen Interface in 2012. Now our…