Futures Hike Following Trade Deal

Jan 16, 2020 (Baystreet.ca via COMTEX) —

Futures for stocks in Canada’s biggest centre rose on Thursday as the U.S. and China signed their Phase-One trade deal, relieving market jitters after the 18-month trade conflict.

The TSX Composite Index gained 62.27 points to conclude Wednesday at 17,415.17.

March futures progressed 0.2% early Thursday.

The Canadian dollar nicked up 0.01 cents to 76.69 cents U.S. early Thursday.

Bombardier said on Thursday it expects full-year results to be lower than previously forecast, hurt partly by challenging rail projects.

Magna International on Thursday said it expects lower vehicle sales in 2020, hurt by a stronger dollar, the sale of its fluid pressure and controls business and lower light-vehicle output in Europe.

Barrick Gold said on Thursday it expects fourth-quarter gold production to be higher than the third quarter, benefiting from strong output from its Turquoise Ridge gold mine in Nevada.

RBC assumes coverage on Computer Modelling Group with a sector perform rating and target price of $8.50

RBC assumes coverage on Evertz Technologies with sector perform rating and target price of C$19

Citigroup raised the target price on Imperial Oil to $31.00 from $30.00

On the economic slate, the Canadian Real Estate Association said MLS sales edged down by 0.9% in December. This ended a streak of monthly gains that began last March. Activity is currently about 18% above the six-year low reached in February 2019 but ends the year about 7% below the heights recorded in 2016 and 2017

ON BAYSTREET

The TSX Venture Exchange nicked higher 2.15 points Tuesday to 574.43

ON WALLSTREET

U.S. stock index futures rose on Thursday after Morgan Stanley reported quarterly figures that easily topped analyst expectations while investors digested a key trade agreement between China and the U.S.

Futures for the Dow Jones Industrials advanced 77

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