Canadian Markets To Assess BoE Rate Cut Signal -- Canadian Commentary

(RTTNews) - Bay Street will look beyond Canada for cues Thursday morning, after the Bank of England signaled an interest rate cut is in the works.

The BoE kept its benchmark rate at a record low of 0.25 percent. They recently offered economic stimulus, and said a further rate hike is likely if economic projections are met.

Canadian stocks have turned lower in September, wiping out late-summer gains.

However, yesterday the S&P/TSX Composite Index was up 17.17 percent, or 0.12 percent, to 14,366.27.

Commodities were quiet this morning ahead of a deluge of U.S. economic data.

WTI light sweet crude oil was up 20 cents at $43.78 barrel, trimming recent losses.

Grocery store operator Empire Company Limited (EMP_A.TO) reported quarterly adjusted net earnings fell sharply from a year ago, citing challenges in its Western business.

Lundin Mining (LUN.TO) has received further extension of TF Holdings offer period to September 29.