Canadian Stocks To Open Optimistic
The Canadian stocks might be opening modestly up on Friday as metal futures are gaining.
Gold Futures are trending up 0.62 percent at 1851.9, while Silver Futures are at 21.23, up 1.57 percent. Copper futures also are positive at 4.094.
The oil futures are down 0.77 percent at 77.59.
On Thursday, S&P/TSX Composite Index finished 77.43 points or 0.38 percent higher at 20,337.21.
Nordstrom is planning to pull out of Canada and close 13 stores which would result in the layoff of 2500 workers. The e-commerce operations of Nordstrom in Canada are expected to be completed by June.
Ensign Energy’s fourth-quarter revenue surged to C$467.98 million from C$296.17 million a year ago.
On Friday, the U.S. service sector activity might get special attention. Inflation and Geopolitical situations might be influencing investor sentiments.
In the U.S. economic front, the Services Purchasing Managers’ Index or PMI for February will be released at 9.45 am ET. The consensus is 50.5. The Institute for Supply Management’s Services Index for February will be published at 10.00 am ET. The consensus is 54.5, while it was up 55.2 in the previous month.
European shares are trading mostly higher. CAC 40 of France is gaining 58.43 points or 0.80 percent. DAX of Germany is adding 166.31 points or 1.09 percent. FTSE 100 of England is progressing 11.99 points or 0.15 percent. Swiss Market Index is down 5.52 points or 0.05 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is progressing 0.99 percent.
Asian stocks advanced on Friday. Chinese shares finished higher. The benchmark Shanghai Composite index settled 0.54 percent higher at 3,328.39. Hong Kong’s Hang Seng index climbed 0.68 percent to finish at 20,567.54.
Japanese shares gained higher. The Nikkei average jumped 1.56 percent to 27,927.47, marking its highest level since Dec.15 and the sharpest single-day gain since Jan.18. The broader Topix index closed 1.25 percent higher at 2,019.52.
Australian markets eked out modest gains. The benchmark S&P/ASX 200 rose 0.39 percent to 7,283.60. The broader All Ordinaries index gained 0.32 percent to close at 7,484.
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