September 3, 2014 / 11:25 AM / 3 years ago

CANADA STOCKS-TSX set to open higher

3 Min Read

Sept 3 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Wednesday as global markets rose on news of a ceasefire agreement between Ukraine and Russia.

September futures on the S&P TSX index <0#SXF:> were up 0.38 percent at 0715 ET.

Bank of Canada's rate decision is due at 1000 ET.

Canada's main stock index dipped marginally on Tuesday as tumbling resource stocks, hurt by falling oil and gold prices, offset gains in financial and industrial stocks.

Dow Jones Industrial Average e-mini futures were up 0.40 percent at 0715 ET, while S&P 500 e-mini futures were up 0.38 percent and Nasdaq 100 e-mini futures were up 0.35 percent.

(Morning News Call newsletter; The Day Ahead newsletter

Top Stories

The Bank of Canada will likely repeat on Wednesday that it is just as likely to cut interest rates as raise them, but a growing number of market players see this so-called neutral stance as fiction designed to keep a lid on the currency.

Canadian pension fund PSP Investment and France's Arcus Infrastructure Partners are nearing a deal to buy the French operations of broadcasting masts group TDF in a deal worth around 3.55 billion euros, said several sources familiar with the matter.

Commodities at 0715 Et

Gold futures : $1,263.10; -0.05 percent

US crude : $93.72; +0.9 percent

Brent crude : $101.3; +0.96 percent

LME 3-month copper : $6,923.25; -0.64 percent

Analyst Research Highlights

Dundee Precious Metals Inc : CIBC cuts rating to "sector performer" from "sector outperformer"

Wajax Corp : Raymond James raises rating to "outperform" from "market perform"

u.s. Economic Data Due on Wednesday

0855 Redbook mm: Prior +0.5 pct

0855 Redbook yy: Prior +4.0 pct

0945 ISM-New York Index for Aug: Prior +644.4

1000 Durables Ex-Def, R mm for Jul: Prior +24.9 pct

1000 Durable Goods, R mm for Jul: Prior +22.6 pct

1000 Factory Orders mm for Jul: Expected +11.0 pct; Prior +1.1 pct

1000 Durables Ex-Transport R mm for Jul: Prior -0.8 pct

1000 Nondefense Cap Ex-Air R mm for Jul: Prior -0.5 pct

1000 Factory Ex-Transport mm for Jul: Prior +1.1 pct

For Canadian Markets News, Click on Codes:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

$1= C$1.10 Reporting by Samarendra Sahoo in Bangalore; Editing by Saumyadeb Chakrabarty

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