CANADA STOCKS-Futures point to flat open, BoC rate decision awaited

Wed Jun 4, 2014 7:31am EDT
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June 4 (Reuters) - Canadian stocks looked set to open little changed on Wednesday, with the Bank of Canada expected to keep interest rates unchanged.

June futures on the S&P TSX index <0#SXF:> were flat at 0720 ET.

The central bank, which will announce its policy decision at 0900 ET, is expected to hold its key rate at 1 percent and show no sign of changing its neutral stance, even though inflation has jumped to its 2 percent target sooner than expected.

Trade balance data is due at 0830 ET.

The index rose for a third straight session on Tuesday, driven by gains in the share prices of energy producers and financial companies, as positive economic data from China boosted sentiment.

Dow Jones Industrial Average e-mini futures were down 0.08 percent at 0720 ET, while e-mini S&P 500 futures were down 0.14 percent and e-mini Nasdaq 100 futures were down 0.16 percent.

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Pent-up demand helped drive Canadian auto sales to a monthly record in May, with mass market brands and niche automakers both big winners, an independent auto industry analyst said on Tuesday.   Continued...