RTTNews - Toronto stocks could be poised to rebound on Thursday morning in early trading. The market is looking to rebound back from yesterday's decline of nearly 3%.
Also on Thursday morning, the Bank of Canada announced it has decided to leave the overnight target rate at 0.25%.
Resource stocks could bounce back with commodity prices moving higher in early trading. Crude oil has rallied $1.68 to $67.80 in electronic trading after a sharp fall yesterday.
On the metal front, gold is up $5.50 to $971.10 an ounce and copper has gained 2.9 cents to $2.241 a pound.
Kinross (K.TO) Vice President James Crossland said the gold producer is interested in mergers and acquisitions in the countries where it already has operations, according to reports.
Harry Winston Diamond (HW.TO) reported first-quarter net loss of US$45.1 million or US$0.68 per share, compared to net income of US$21.3 million from US$0.35 per share last year.
Domtar Corp. (UFS.TO) announced that it had raised the tender capital from US$250 million to US$400 million, related to its previously announced tender offer for its outstanding 7.875% notes due 2011.
Wi-LAN (WIN.TO) reported a second quarter GAAP net loss of C$1.0 million or C$0.01 per share, compared to a net loss of C$4.0 million or C$0.04 per share in the year ago quarter.
Enghouse Systems Limited (ESL.TO) reported a second quarter net income of C$0.9 million or C$0.04 per share, compared to C$1.3 million or C$0.05 per share in the prior year quarter.
Baja Mining Corp. (BAJ.TO) said that it has appointed Michael Shaw as chief operating officer, effective immediately. Shaw joined the company in August 2007 as vice president construction and engineering.
On the economic front, Statistics Canada reported building permits were down 5.4% in the month of April. Non-residential permits fell 14.4%.
In the U.S., a Labor Department report showed that initial jobless claims fell to 621,000 from the previous week's revised figure of 625,000. Economists had been expecting jobless claims to edge down to 620,000 from the 623,000 originally reported for the previous week.
Wednesday, the S&P/TSX Composite Index dropped 298.67 points or 2.82% to settle at 10,290.12. Last week, the index reached an eight-month high above 10,600.
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