RTTNews - Canadian stocks could see some early strength on Thursday, as commodities are higher in the early going. European markets and U.S. futures are also in the green.
Crude oil has rallied to $71.63 per barrel, up $1.47 on the session. Prices earlier reached as high as $72.21. Meanwhile, gold added $7.20 to $959.70 per ounce and copper rose 6.8 cents to $2.8915.
Kinross Gold (K.TO) reported that its second quarter net earnings were US$19.3 million or US$0.03 per share, compared to net earnings of US$26.0 million or US$0.04 per share a year ago. Adjusted net earnings for the second quarter were US$84.3 million or US$0.12 per share, up from US$49.5 million or US$0.08 per share last year.
Niko Resources Ltd. (NKO.TO) reported a surge in first-quarter net income to US$20.44 million or US$0.41 per share from US$6.27 million or US$0.13 per share in the prior year.
Anvil Mining Ltd. (AVM.TO) reported second-quarter net loss was US$11.35 million or US$0.13 per share, compared with a net income of US$8.52 million or US$0.12 per share in the prior-year quarter.
Suncor (SU.TO) reportedly closed units at a refinery in Edmonton for the second time in a month because of mechanical problems, adding to supply worries.
Gildan Activewear Inc. (GIL.TO) reported third-quarter net earnings of $41.5 million or $0.34 per share, lower than net earnings of $54.5 million or $0.45 per share reported in the same period of fiscal 2008. The previous year's results have been recast.
On Wednesday, the S&P/TSX Composite Index rose 30.4 points or 0.28% to close at 10,659.87. The market had finished at its lowest level of August on Tuesday.
Across the border, the Federal Open Market Committee announced Wednesday that it will leave the target range for its benchmark federal funds rate at zero to 0.25 percent. The Fed also repeated its belief that low rates will persist for what it calls an extended period. The central bank said that economic activity is leveling out.
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