Equity markets in Toronto were little changed shortly after the open as energy gains were offset by losses in the materials group.
The S&P/TSX composite index scaled back 2.58 points to open Thursday at 13,865.77
The Canadian dollar backtracked 0.02 cents at 76.58 cents U.S.
Encana Corp said it would sell its Denver Julesberg basin assets in Colorado to a joint venture owned by Canada Pension Plan Investment Board and Broe Group for $900 million. The deal includes all the Denver Julesberg acreage comprising 51,000 net acres.
Encana shares marched ahead 12 cents, or 1.1%, to $11.16.
Canaccord Genuity cut the target price on EXFO Inc’s U.S.-listed stocks to $3.25 from $3.50 following the company’s fourth-quarter revenue, which came below expectations.
EXFO shares dipped 10 cents, or 2.5%, to $3.90.
RBC raised the target price to $85.00 from $77.00 following the Antamina silver stream acquisition from Teck Resources, whose shares gained 18 cents, or 2%, to $9.07.
Sandvine Corp reports Q3 earnings today, expecting a cent per share. Sandvine shares gained a penny to $2.45.
On the economic front, Statistics Canada’s new housing price index rose 0.3% in August, largely a result of higher new home prices in Ontario.
Also, Canada Mortgage and Housing Corporation noted that housing starts in Canada totaled 202,506 units in September compared to 195,804 in August.
ON BAYSTREET
The TSX Venture Exchange added 0.58 points to 543.26.
Eight of the 13 TSX subgroups were positive, with telecoms up 0.8%, information technology better by 0.7%, and consumer staples up 0.4%.
The five laggards were weighed most by metals and mining, down 3.6%, materials, down 1.4%, and health-care, down 0.8%.
ON WALLSTREET
U.S. stocks traded lower Thursday as investors awaited the afternoon release of the Fed minutes and the beginning of earnings season in the coming weeks.
The Dow Jones industrial average began the session down 20.88 points to 16,891.41, with Apple leading decliners and DuPont the greatest advancer.
The S&P 500 slid 3.89 points to 1,991.94, with information technology leading six sectors lower and materials the greatest advancer.
The NASDAQ index drooped 21.73 points to 4,769.42
On the earnings front, Domino's Pizza reported results that missed on both the top and bottom line. Alcoa, Helen of Troy and Ruby Tuesday are all due after the bell.
The Federal Open Market Committee's September meeting minutes are scheduled for release at 2:00 p.m., ET.
Although the minutes won't reflect the central bank's view on last Friday's weaker-than-expected non-farm payrolls report, analysts said they will be watching to see how much the Fed was concerned about conditions overseas, particularly in China.
Many market analysts expected the Federal Reserve to raise short-term interest rates for the first time in nearly a decade at its September meeting. The central bank's decision to hold off on a hike caused great uncertainty in markets about the Fed's view on domestic and global economic conditions.
U.S. weekly jobless claims declined to 263,000, a near 42-year low.
Prices for 10-year U.S. Treasuries were unchanged, keeping yields at compared to Wednesday’s 2.06%.
Oil prices gained 60 cents a barrel to $48.41 U.S.
Gold prices faded 54 cents to $1,145 U.S. an ounce.
