October 22, 2014 / 11:59 AM / 3 years ago

CANADA STOCKS-TSX set to open lower ahead of BoC rate decision

3 Min Read

Oct 22 - Stock futures pointed to a lower opening for Canada's main stock index on Wednesday ahead of Bank of Canada's rate decision due at 1000 ET.

December futures on the S&P TSX index were down 0.18 percent at 0800 ET.

Retail sales data is due at 0830 ET.

The Toronto Stock Exchange's S&P/TSX composite index recorded its fourth straight session of gains on Tuesday with higher oil prices lifting shares of energy producers and the likelihood of new European Central Bank stimulus measures bolstering sentiment.

Dow Jones Industrial Average e-mini futures were up 0.06 percent at 0800 ET, while S&P 500 e-mini futures were down 0.10 percent and Nasdaq 100 e-mini futures were down 0.04 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

Top Stories

Canadian National Railway Co reported higher third-quarter earnings on Tuesday as revenue jumped on higher freight volumes.

Kinross Gold Corp has agreed to sell its halted Fruta del Norte gold project in Ecuador to a company belonging to the Swedish-Canadian Lundin family for $240 million, Kinross and the company, Fortress Minerals Corp, said on Tuesday.

Tekmira Pharmaceuticals Corp has begun limited manufacturing of a therapeutic targeting the Ebola-Guinea virus.

Commodities at 0800 Et

Gold futures : $1,247.80; -0.27 pct

US crude : $82.58; +0.12 percent

Brent crude : $86.7; +0.56 percent

LME 3-month copper : $6687; +0.27 percent

Analyst Research Highlights

Canadian National Railway : Raymond James raises target price to c$85 from c$78; rating "outperform"

Canadian Pacific Railway : Canaccord Genuity raises target price to C$244 from C$237; rating "hold"

Enbridge Income : CIBC raises price target to C$32 from C$29; rating "sector outperformer"

u.s. Economic Data Due on Wednesday

08:30 CPI mm, SA for Sep: Expected 0.0 pct; Prior -0.2 pct

08:30 CPI yy, NSA for Sep: Expected 1.6 pct; Prior 1.7 pct

08:30 Core CPI mm, SA for Sep: Expected 0.2 pct; Prior 0.0 pct

08:30 Core CPI yy, NSA for Sep: Expected 1.7 pct; Prior 1.7 pct

08:30 CPI Index, NSA for Sep: Expected 237.97; Prior 237.85

08:30 Core CPI Index, SA for Sep: Prior 238.35

08:30 Real Weekly Earnings mm for Sep: Expected 0.3 pct; Prior 0.4 pct

11:30 Cleveland Fed CPI for Sep: Prior 0.1 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$1.12)

Reporting by Nikhil Kumar

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