TORONTO, March 25 (Reuters) - Toronto’s main stock index looked set for a higher open on Thursday as a weaker U.S. dollar helped to push up the price of oil and gold, lifting the resource-laden index.
A firmer tone in global equity markets could also influence the direction of the Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE. European shares rose to their highest level in 17 months and the euro recovered from 10-month lows against the dollar as the European Central Bank moved to shore up Greek banks. [MKTS/GLOB] [.N]
Investors will be closely watching any news from a European Summit, which begins later on Thursday.
Here is some news that could influence stock prices:
Canadian retailer Lululemon Athletica reported strong quarterly results on Thursday, helped by its growing line of running gear and a rebound in consumer confidence. [ID:nN25211851]
BANK OF NOVA SCOTIA (BNS.TO)
Thanachart Bank said on Thursday it was on track to acquire a stake in Siam City Bank SCIB.BK despite criminal charges hanging over two of its executives, which could in theory scupper the deal, Thailand’s biggest in four years. Thanachart Bank is 49 percent owned by Canada’s Bank of Nova Scotia (BNS.TO). [ID:nSGE62O0DI]
IVANHOE MINES (IVN.TO)
Ivanhoe Mines (IVN.TO) said on Wednesday it will consider spinning off its 50 percent owned Altynalmas Gold venture, as it works toward bringing the Kyzyl gold project in Kazakhstan into commercial production. [ID:nN24192041]
SUNCOR ENERGY INC (SU.TO)
Suncor CEO bets on oil sands growth. As Suncor Energy Inc’s first and only chief executive, Rick George has made some big gambles as he took a small spinoff from a U.S. refiner and built it into North America’s fifth-largest energy company and a dominant player in the oil sands. [ID:nN24197962]
(For more on the Reuters Oil Sands Summit, see [ID:nN22167422])
AUTOMATION TOOLING SYSTEMS INC (ATA.TO)
ATS Automation Tooling Systems Inc to acquire Sortimat Group, a world leading specialized healthcare assembly systems manufacturer. ATS said the final purchase price is expected to be up to approximately C$62 million. [ID:nWNAB3485]
Macquarie raises Canadian National Railway (CNR.TO) to outperform from neutral [ID:nWNAB3486]
BMO cuts Martinrea International (MRE.TO) price target to C$11 from C$12; rating outperform.
Raymond James raises Gildan Activewear (GIL.N) price target to $30 from $25; keeps outperform rating.
$1=$1.02 Canadian Reporting by Jennifer Kwan; Editing by Theodore d'Afflisio