Bay Street Seen Opening On Mixed Note

(RTTNews) - Canadian shares likely to open on a mixed note on Thursday, as investors are likely to make cautious moves, tracking a mixed trend in commodities markets, and on concerns about further policy tightening by several central banks.

Corus Entertainment Inc. (CJR.B.TO) today reported third-quarter net loss of $495.1 million or $2.48 per share. The company's year-to-date net loss is $479.1 million or $2.40 per share.

On the economic front, a report from the Canadian Federation of Independent Business showed small business sentiment in Canada decreased to 54.10 points in June from 56.40 points in May.

A report on average weekly earnings for April is due out at 8:30 AM ET.

The Canadian market ended on a positive note on Wednesday, gaining for a third straight session, led by gains in technology and consumer staples sectors.

Data on Canadian inflation, released on Tuesday, continued to aid sentiment. The benchmark S&P/TSX Composite Index ended with a gain of 85.76 points or 0.43% at 19,818.85, the session's high.

Asian stocks ended mixed in thin trade on Thursday, with markets in India, Singapore, Indonesia and Malaysia closed for holidays.

Amid continued concerns of a global economic slowdown, investors awaited Chinese PMI data due on Friday for direction.

European stocks are broadly higher after a subdued start. Hawkish comments from global central banks chiefs and uncertainty over slowing economic rebound in China weighed early on in the session.

In commodities, West Texas Intermediate Crude oil futures are up $0.35 or 0.52% at $69.91 a barrel.

Gold futures are down $4.20 or 0.21% at $1,918.00 an ounce, while Silver futures are lower by $0.024 or 0.1% at $22.865 an ounce.