CANADA STOCKS-Futures down ahead of Fed meeting
March 14 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Tuesday as investors awaited the start of the two-day U.S. Federal Reserve meeting, even as oil prices recovered modestly from three-month lows. March futures on the S&P TSX index were down 0.19 percent at 7:15 a.m. ET. The Toronto Stock Exchange's S&P/TSX composite index closed up 0.25 percent at 15,544.82 on Monday, as financial stocks pushed higher with bond yields ahead of an expected U.S. Federal Reserve rate hike and as some mining stocks gained from higher commodity prices. Dow Jones Industrial Average e-mini futures were down 0.09 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.12 percent and Nasdaq 100 e-mini futures were down 0.09 percent. (Morning News Call newsletter here ; The Day Ahead newsletter here) TOP STORIES Billionaire investor William Ackman walked away from Valeant Pharmaceuticals International Inc on Monday with a loss of more than $3 billion as he sold his entire stake in the struggling drug company after trying to rescue it for some 18 months. A consortium of Canadian and Kuwaiti investors has agreed to buy a minority stake in Britain's Thames Water from funds managed by Macquarie, ending the Australian group's 11-year investment in Britain's largest water firm. ANALYST RESEARCH HIGHLIGHTS Spin Master Corp : TD Securities raises target price to C$43 from C$39 DH Corp : Eight Capital revises rating to "tender" from "buy" COMMODITIES AT 7:15 a.m. ET Gold futures : $1202.9; +0.04 percent US crude : $48.73; +0.6 percent Brent crude : $51.76; +0.7 percent LME 3-month copper : $5793.5; -0.03 percent U.S. ECONOMIC DATA DUE ON TUESDAY 08:30 PPI final demand yy for Feb: Expected 2.0 pct; Prior 1.6 pct 08:30 PPI final demand mm for Feb: Expected 0.1 pct; Prior 0.6 pct 08:30 PPI exfood/energy yy for Feb: Expected 1.5 pct; Prior 1.2 pct 08:30 PPI exfood/energy mm for Feb: Expected 0.2 pct; Prior 0.4 pct 08:30 PPI ex food/energy/transport yy for Feb: Prior 1.6 pct 08:30 PPI ex food/energy/transport mm for Feb: Prior 0.2 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$1.34) (Reporting by Nayyar Rasheed in Bengaluru; Editing by Sriraj Kalluvila)
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