CANADA STOCKS-Futures little changed ahead of January trade data
Canadian stock futures were flat on Tuesday as investors awaited the January trade balance data. March futures on the S&P TSX index were down 0.03 percent at 7:15 a.m. ET. Investors will be watching the January trade data, due at 8:30 a.m. ET, to see if the economy posted its third monthly trade surplus in a row. The Toronto Stock Exchange's S&P/TSX composite index closed up 0.14 percent at 15,629.75 on Monday, its highest close in 11 days as financial and energy shares climbed, while mining stocks weighed as lower Chinese economic growth targets contributed to a softening in prices for metals. Dow Jones Industrial Average e-mini futures were down 0.12 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.17 percent and Nasdaq 100 e-mini futures were down 0.15 percent. (Morning News Call newsletter here ; The Day Ahead newsletter here) TOP STORIES Canada's Cameco Corp , the world's second-biggest uranium producer, is exploring the sale of its U.S. production facilities, its chief executive said on Monday, as a six-year industry slump drags on. Valeant Pharmaceuticals International Inc plans to line up a $3.06 billion incremental term loan and junk bond sale as part of a debt restructuring, sources said. Newmont Mining on Monday became the latest of the world's biggest gold miners to invest in Canada's Yukon territory, the site of a famous gold rush 120 years ago, as miners hunt for rich, new deposits in safe regions. ANALYST RESEARCH HIGHLIGHTS Bank of Nova Scotia : CIBC raises rating to "outperformer" from "neutral" Canadian Western Bank : CIBC raises target price to C$33 from C$32 Royal Bank of Canada : CIBC raises target price to C$106 from C$101 COMMODITIES AT 7:15 a.m. ET Gold futures : $1223.8; -0.06 percent US crude : $53.36; +0.3 percent Brent crude : $56.15; +0.25 percent LME 3-month copper : $5820.5; -0.64 percent U.S. ECONOMIC DATA DUE ON TUESDAY 08:30 International trade mm for Jan: Expected -$48.5 bln; Prior -$44.3 bln 08:30 Goods trade balance (R) for Jan: Prior -69.20 bln 15:00 Consumer credit for Jan: Expected 17.10 bln; Prior 14.16 bln 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$1.34) (Reporting by Nayyar Rasheed in Bengaluru; Editing by Sriraj Kalluvila)
© Thomson Reuters 2017 All rights reserved.