Markets

TSX Set for Weak Start As Oil Prices Slide

Canada's benchmark index looked set to open lower on Thursday, weighed down by weak oil prices , although BCE (BCE.TO) may help cap losses after reporting better-than-expected quarterly results.

The drop in oil prices came as the US dollar continued to gain strength, with the ICE dollar index rising for six-straight sessions. As well, falling stock markets in Europe and Asia, and futures pointing to a lower open for US markets have investors looking to safer investments.

In stocks, investors will keep an eye on BCE, which reported adjusted EPS of $0.89 for Q4, up 8.5% from last year's $0.82, exceeding the Capital IQ consensus of $0.86. Great-West Lifeco (GWO.TO) will also be in focus after i t report ed adjusted EPS of $0.72 for Q4, down from $0.74 for the same period last year, missing Street view of $0.75.

The TSX closed up by 9 points on Wednesday, held higher by financial stocks.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Stocks