Bay Street Likely To Open On Positive Note

(RTTNews) - Canadian shares look headed for a positive start on Thursday, tracking higher bullion prices. Concerns about a possible recession in the U.S. later this year, and uncertainty about Fed's rate hike moves might limit market's upside.

Corus Entertainment Inc (CJR.B.TO) reported net loss of $15.5 million or $0.08 per share for the second quarter of current fiscal, as against net income of $16.2 million or $0.08 per share a year ago. The company reported net income of $15.9 million or $0.08 per share for the year-to-date.

Barrick Gold Corp. (ABX.TO) reported preliminary first-quarter sales of 0.95 million ounces of gold and 89 million pounds of copper. Preliminary first quarter production was 0.95 million ounces of gold and 88 million pounds of copper, the comany said, and added that it remains on track to achieve full year gold and copper guidance.

The Canadian market ended modestly higher on Wednesday. Despite pulling back well of its early highs, the benchmark S&P/TSX Composite Index ended the day with a gain of 32.47 points or 0.2% percent at 20,454.32, its best closing level in over a month.

Asian stocks ended mixed on Thursday after minutes from the Fed's March 21-22 meeting indicated that officials see the U.S. economy entering a "mild recession" by year's end in the wake of the banking crisis.

European stocks are turning in a mixed performance amid concerns about a U.S. recession and uncertainty about the Federal Reserve's tightening campaign.

In commodities trading, West Texas Intermediate crude oil futures are down $0.26 or 0.31% at $83.00 a barrel.

Gold futures are gaining $18.00 or 0.91% at $2,042.90 an ounce, while Silver futures are up $0.257 or 1.01% at $25.715 an ounce.