RTTNews - Canadian stocks look to move in the green for a third straight session on Thursday as the market continues to climb back from Monday's sharp decline. Investors will consider employment data from both sides of the border and the U.S. gross domestic product report.
Statistics Canada revealed non-farm payrolls dropped 51,400 in the month of April, down 0.4% from the previous month. In the U.S., a Labor Department report showed that initial jobless claims rose to 627,000 from the previous week's revised figure of 612,000.
Also across the border, a Commerce Department report showed that gross domestic product fell at an annual rate of 5.5 percent in the first quarter compared to the 5.7 percent decrease that had been reported. The revision came as a surprise to economists, who had expected the drop in GDP to be unchanged at 5.7 percent.
Crude oil prices are slightly higher, adding 18 cents to $68.85 in electronic trading. Gold and copper are little-changed in early trading.
In corporate news, SIR Royalty Income Fund (SRV_U.TO) said that SIR Corp., has filed its financial results for the third quarter ended May 10. The company reported net earnings for the third quarter of C$100,000, compared to a net loss of C$300,000 in the same quarter a year-ago.
Mad Catz Interactive (MCZ.TO) reported a fourth-quarter net loss of US$3.7 million or US$0.07 per share, compared to a loss of US$0.8 million or US$0.02 per share in the same quarter last year. Net sales for the fourth quarter were US$22.8 million, up 3.9% from US$21.9 million in the comparable quarter last year.
Liquidation World (LQW.TO) appointed Daniel Ardila as chief financial officer and senior executive vice president of finance.
On Wednesday, the S&P/TSX Composite Index has added 204.21 points or 2.06% to move at 10,100.93. The index posted a second straight positive close after a sharp sell-off on Monday.
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