Bay Street Likely To Open Mixed; Corporate Earnings In Focus

(RTTNews) - Canadian shares are likely to open on a mixed note on Thursday with investors reacting to a slew of earnings updates, and the mixed trend in the commodities markets.

In earnings news, BCE Inc. (BCE.TO) reported adjusted net income of $691 million for the fourth quarter of 2023, compared to $654 million a year ago.

Thomson Reuters Inc (TRI.TO) reported adjusted EBITDA of US$707 million for the quarter ended December 2023, compared with US$633 million in the year-ago quarter.

Colliers International Group Inc. (CIGI.TO) reported fourth-quarter revenues of US$1,235.2 million, compared with US$1,222.4 million in the year-ago quarter.

Bombardier Inc (BBD.A.TO) reported adjusted EBITDA of $1.23 billion for 2023, up 32% from the previous year.

Lightspeed Commerce Inc (LSPD.TO) reported third-quarter net loss of $40.2 million, compared to a net loss of $814.8 million in the year-ago quarter.

The Canadian market ended slightly up on Wednesday after a lackluster session as investors largely refrained from making significant moves amid a lack of triggers. Uncertainty about interest rates rendered the mood cautious.

The benchmark S&P/TSX Composite Index ended up 11.44 points or 0.05% at 20,969.18, after scaling a low of 20,900.94 and a high of 20,990.69 intraday.

Asian stocks ended mixed on Thursday as caution crept in before the Lunar New Year holidays. Treasuries were unchanged and the dollar moved in a tight range amid Fed rate cut uncertainty.

Despite geopolitical tensions and uncertainty about the Federal Reserve's interest-rate trajectory, European stocks are broadly higher with investors tracking a slew of earnings updates for direction.

In commodities, West Texas Intermediate Crude oil futures are up $0.91 or 1.25% at $74.77 a barrel.

Gold futures are down $13.30 or 0.65% at $2,038.40 an ounce, while Silver futures are down marginally at $22.340 an ounce.