Enlarge Photo
(Reuters)
TORONTO (Reuters) - Toronto's main stock index may get off to a lower start on Friday given some spillover from U.S. equities, where worse-than-expected quarterly statements could extend a retreat from the prior session.
Bank shares could be an early drag on the broader TSX as Bank of America Corp delivered a quarterly loss that was wider than expected.
General Electric Co may also weigh on sentiment as its revenue missed expectations and overshadowed earnings that were better than expected.
Lower commodity prices could also weigh on the TSX as the energy and materials groups account for more than 40 percent of its weighting.
The S&P/TSX composite index fell 28.27 points, or 0.25 percent, at 11,504.51 on Thursday.
Here is some news that could affect the market:
POTASH CORP
Potash Corp of Saskatchewan said North American potash inventories declined for a third consecutive month, but inventories at the manufacturer level continue to remain well above average.
ATHABASCA POTASH
Athabasca Potash is studying the economics and feasibility of increasing the size of its proposed Burr project in Western Canada, a top official for the miner said on Thursday.
IMPERIAL OIL
A weak North American economy squeezed margins for Imperial Oil Ltd's refining business even more than in the second quarter, when Canada's No.2 oil refiner reported a loss from the business, the company's chief executive said on Thursday.
VENTANA GOLD CORP
Canada's Ventana Gold said it would raise C$40 million ($38.72 million) in a private placement financing to fund the its exploration and development activities.
ANATOLIA MINERALS DEVELOPMENT LTD
Canada's Anatolia Minerals Development said it would raise C$49 million ($47.43 million) in a bought deal financing for the development of its Copler gold project in Turkey.
OIL PRICE RETREAT
Oil retreated from a year-high above $78 touched early on Friday after a renewed focus on brimming inventories and disappointing corporate earnings chipped away at bullishness across financial markets.
GOLD PRICES DROP
Gold prices fell on Friday, drifting back from this week's record highs as the U.S. dollar ticked higher and as investors switched into stronger equities. Slow physical demand also weighed on prices.
CANADA CPI DATA
Canadian consumer prices fell in September from a year earlier due largely to tumbling gasoline prices and while there was other evidence of emerging inflation pressures, it was not expected to a concern for the Bank of Canada.
($1=$1.04 Canadian)
(Reporting by Frank Pingue)
