The Canadian Press

The Toronto stock market appeared to be headed lower as stronger real gross domestic product numbers for Canada ran up against a negative private-sector employment report in the United States.

Statistics Canada said that real GDP advanced 0.6% in January, its fifth straight monthly increase and based largely on the strength of manufacturing and construction.

That was slightly ahead of the bullish estimate of a 0.5% increase from December, or 6% annualized, that economists had expected.

The Canadian dollar, which has been hovering just below parity with the American currency, was ahead 0.28 of a cent to 98.37 cents US early Wednesday.

The Dow Jones industrial average futures were down 28 points at 10,826, while Nasdaq futures declined 5.25 points at 1,960.25. The S&P 500 futures dipped 4.10 points to 1,165.30.

The May crude contract on the New York Mercantile Exchange was ahead 74 cents to US$83.11 a barrel.

The May gold contract increased $7.30 to $1111.80 an ounce.

BlackBerry-maker Research In Motion (TSX:RIM) is scheduled to report after the closing bell.

The TSX gained 14.49 points on Tuesday to close at 12,044.21 with gains paced by the energy sector.

In the U.S., payroll company ADP says employers slashed 23,000 jobs in March, compared to economists predictions which had forecast companies would add 40,000 jobs during the month.

Overseas, London’s FTSE 100 index rose 0.04%, Frankfurt’s DAX was flat while the Paris CAC 40 was down 0.4%.

In Asia, Japan’s Nikkei 225 stock average ended down less than 0.1% and Hong Kong’s Hang Seng fell 0.6%.

In corporate news, Mega Brands Inc. (TSX:MB) says an uptick in fourth-quarter sales allowed it to drastically trim losses to US$22.1 million or 60 cents per share in the period, narrowing losses sharply from year-earlier levels of $323.3 million or $8.83 per share.

Premium Brands Holdings Corporation (TSX:PBH) is acquiring an 80% interest in Duso’s Enterprises Ltd., a Vancouver-based maker of fresh pastas and sauces, from the founders in a $5.6-million cash, stock and debt transaction. The payment consists of $4 million in cash, 69,252 shares of Premium Brands and a $600,000 note that’s due in three years.

Wallbridge Mining Company Ltd. (TSX:WM) says it will spin off all its copper, gold and molybdenum properties in British Columbia to a new independent company called Miocene Metals Ltd. Based in Lively, Ont., Wallbridge’s primary focus will be the exploration for nickel, and copper and platinum group deposits in the Sudbury area of Ontario.