Bay Street Set For Quiet Start

(RTTNews) - Canadian stocks are likely to waver Wednesday morning, with investors looking ahead to the central bank's interest rate decision.

The Bank of Canada is widely expected to hold its key overnight rate at 1.0 percent. Investors are keenly awaiting the bank's statement about the economy.

Investors will also be reacting to a report from the U.S. payroll processor ADP that showed a notable increase of 208,000 jobs in private sector employment in November. However, that was less than economists' forecast for an increase of 225,000 jobs.

Energy and gold stocks may find some support, tracking a modest rise in commodity prices.

On Tuesday, the benchmark S&P/TSX Composite Index ended down 5.25 points or 0.04 percent at 14,620.07, after scaling a intraday high of 14,707.65 and a low of 14,570.67.

Royal Bank of Canada (RY.TO) has reported a net income of C$2.32 billion or $1.57 per share for the fourth quarter, up from C$2.10 billion or C$1.39 per share in the prior-year quarter.

Ritchie Bros. Auctioneers (RBA.TO) will be in focus after conducting its largest agriculture auction of 2014 on December 2 in Saskatoon, SK, selling more than C$41 million of equipment and trucks in a single day.

Onex Corp. (OCX.TO) is reportedly in talks to buy UK-based safety and survival equipment maker Survitec Group Ltd. from private equity firm Warburg Pincus LLC for about 450 million pounds or $704 million.

Athabasca Oil Corp. (ATH.TO)'s Board of Directors approved an initial 2015 capital budget of C$266 million, which includes C$58 million of carryover from the 2014 budget.

In commodities, crude oil futures for January are up $0.47 or 0.71 percent at $67.35 a barrel.

Natural gas for January is down $0.074 or 1.91 percent at $3.800 per million btu.

Gold futures for February are are up $3.60 or 0.30 percent at $1,203.20 an ounce.

Silver for March is down $0.011 or 0.07 percent at $16.445 an ounce. Meanwhile, copper is down $0.021 or 0.72 percent at $2.871 per pound.

A report from the U.S. Labor Department showed labor productivity to have increased by an upwardly revised 2.3 percent in the third quarter, compared to the previously reported 2.0 percent growth.