Bay Street Likely To Open On Mixed Note

(RTTNews) - Canadian shares are likely to open on a mixed note Thursday morning, reacting to data showing a bigger than expected increase in U.S. producer price index, and mixed batch of earnings data from Canada. Oil prices are up, while metals are exhibiting weakness.

Investors look ahead to the talks between U.S. President Donald Trump and Russian President Vladimir Putin, set to take place on Friday.

Stantec Inc (STN.TO) reported a 20% surge in adjusted earnings per share in the second quarter of 2025, at $1.36. The company has also increased its 2025 outlook, saying it expects adjusted EPS growth of 18.5 to 21.5%, up from previous guidance of 16% to 19%.

CCL Industries reported EPS of $1.22 for the second quarter, up compared to $1.13 in the year-ago quarter.

Linamar Corp has reported earnings per share of $2.81 in the second quarter of 2025, compared to $3.06 per share in the year-ago quarter.

Canadian stocks closed higher on Wednesday amid rising expectations of a US Fed rate cut in September. The benchmark S&P/TSX Composite Index hit a new record intraday high of 28,063.73, and despite paring some gains subsequently, ended the day's session with a gain of 72.17 points or 0.26% at 27,993.43, a new closing high.

Asian stocks ended mostly lower on Thursday as investors digested weak Chinese bank lending data and awaited crucial U.S.-Russia talks on Ukraine.

European stocks are broadly higher amid continued optimism the Fed will cut interest rate in September. Investors are also digesting the latest batch of earnings and economic updates from the region.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.25 or 0.4% at $62.90 an ounce.

Gold futures are down $14.40 or 0.42% at $3,393.90 an ounce, while Silver futures are down $0.307 or 0.8% at $38.295 an ounce.