(fxcue news) - Canadian shares may open on a mixed note on Thursday with investors looking for fresh direction, after the market closed the previous session on a firm note following the Bank of Canada's decision to cut interest rates by 50 basis points. Energy stocks may find support thanks to higher oil prices. Empire Company Limited (EMP.A.TO) reported net earnings of $173.4 million ($0.73 per share) for the second quarter of fiscal 2025, compared to $181.1 million ($0.72 per share) in the second quarter of financial year 2024. For the quarter, the Company recorded adjusted net earnings of $173.4 million ($0.73 per share) compared to $178.3 million ($0.71 per share) last year. Transat A.T. Inc. (TRZ.TO) reported a net income of $41.2 million or $1.05 per share for the quarter ended October 31, 2024, compared to $3.2 million or $0.08 per share in the year-ago quarter. Agnico Eagle Mines Limited (AEM.TO) and O3 Mining Inc. (OIII) announced that they have entered into an agreement as per which Agnico Eagle will acquire O3 Mining for about C$204 million in cash. The offer price of C$1.67 per share represents 58% premium to the volume weighted average price of O3 Mining for the 20-day period ended on December 11. Data on Canadian building permits for the month of October is due at 8:30 AM ET. The Canadian market closed on a firm note on Wednesday, lifted by gains in materials, energy and technology sectors. The Bank of Canada's decision to lower interest rates by 50 basis points, and expectations of a 25 bps cut by the Federal Reserve next week helped underpin sentiment. The benchmark S&P/TSX Composite Index, which stayed in positive territory right through the day's session, closed with a gain of 153.37 points or 0.6% at 25,657.70, slightly off the day's high of 25,674.74. The Bank of Canada said it decided to reduce its target for the overnight rate by 50 basis points to 3.25%, with the Bank Rate at 3.75% and the deposit rate at 3.25%. The Canadian central bank, which lowered interest rates by 50 basis points in October on the heels of three straight 25 basis point cuts, said the decision to continue slashing rates is intended to support growth and keep inflation close to the middle of the 1-3% target range. The central bank said the need for further rate cuts would be evaluated "one decision at a time." Asian stocks ended mixed on Thursday despite a benign inflation report cementing expectations that the Federal Reserve will keep cutting interest rates. Investors awaited the outcome of a key policy meeting in China, where leaders are expected to map out next year's economic priorities. European stocks are turning in a mixed performance in cautious trade ahead of the European Central Bank's monetary policy announcement. The ECB is widely expected to cut its benchmark rates by 25 basis points, citing weaker economic growth and moderating inflation. Meanwhile, the Swiss National Bank has lowered its benchmark interest rate by a hefty 0.5%. In commodities, West Texas Intermediate Crude oil futures are up $0.23 or 0.33% at $70.52 a barrel. Gold futures are down $16.10 or 0.61% at $2,740.60 an ounce, while Silver futures are lower by $0.217 or 0.66% at $32.750 an ounce.