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Stocks to Climb Following Brexit Pact

Stock futures pointed to a higher opening for Canada's main stock index on Thursday as a new Brexit deal eased fears over a disorderly British exit from the European Union.

The TSX Composite Index inched forward 8.79 points to end Wednesday at 16,427.18

The Canadian dollar gained 0.14 at 75.89 cents U.S. early Thursday

December futures vaulted 0.3% early Thursday.

Barrick Gold estimated lower third-quarter gold production from the second, as the Canadian miner's output was hit by restrictions on its North Mara operations in Tanzania.

TC Energy Corp has declared force majeure on shipments on its 590,000-barrel-per-day Keystone oil pipeline after a snow storm hit Manitoba over the weekend, disrupting operations.

CIBC raised the target price on Air Canada to $54.00 from $53.00

CIBC cut the target price on Kinder Morgan Canada to $14.50 from $15.00

National Bank of Canada raised the target price on SilverCrest Metals to $9.50 from $9.00

On matters macroeconomic, Statistics Canada reported manufacturing sales rose 0.8% to $57.6 billion in August, following two consecutive monthly declines.

The transportation equipment and fabricated metal industries were mainly responsible for the growth in August.


The TSX Venture Exchange dipped 2.14 points Wednesday to 539.05


U.S. stock index futures rose Thursday after a draft Brexit deal was struck between the European Union and the U.K.

Futures for the Dow Jones Industrials gained 83 points, or 0.3%, early Thursday to 27,023

Futures for the S&P 500 increased 9.75 points, or 0.3%, at 3,001.25

NASDAQ Composite futures acquired 30.5 points, or 0.4%, to 7,979

U.K. Prime Minister Boris Johnson said "we have a great new Brexit deal" via Twitter. He called on British lawmakers to back the deal when it's put before Parliament on Saturday. Meanwhile, European Commission President Jean-Claude Juncker tweeted that the deal was a “fair and balanced” one.

The Northern Irish Democratic Unionist Party, however, said earlier in the day that it could not support the British government's Brexit plans "as it stands."

Meanwhile, American investors are likely to closely monitor a flurry of economic data and earnings reports on Thursday.

The latest weekly jobless claims figures, housing starts and building permits for September, and the Philadelphia Federal Reserve's manufacturing index for October will be released at 8:30 a.m. ET. Industrial production data for September will follow slightly later in the session.

E*Trade and Ericsson are among the firms declaring earnings Thursday.

Overseas, in Japan, the Nikkei 225 dipped 0.1% Thursday, while in Hong Kong, the Hang Seng Index gained 0.7%.

Oil prices gave back 26 cents to $53.10 U.S. a barrel.

Gold prices fell $1.40 to $1,492.60 U.S. an ounce.

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