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

CANADA STOCKS-Futures point to a higher open as Ukraine tensions ease

2 Min Read

Aug 11 (Reuters) - Stock futures indicated a higher start to the week for Canada's main stock index as the risk of direct conflict between Russia and Ukraine eased and Middle East tensions appeared less acute.

September futures on the S&P TSX index <0#SXF:> were up 0.28 percent at 0715 ET.

Housing starts data is due at 0815 ET.

The Toronto Stock Exchange's S&P/TSX composite index climbed on Friday after Russia said it had ended military exercises near the Ukraine border, a move that was seen as a step away from the brink in the Ukraine crisis.

Dow Jones Industrial Average e-mini futures were up 0.4 percent at 0715 ET, while S&P 500 e-mini futures were up 0.47 percent and Nasdaq 100 e-mini futures were up 0.57 percent.

(Morning News Call newsletter; The Day Ahead newsletter

Top Stories

Standard & Poor's said on Friday it had revised its outlook on Canadian banks to "negative," due to concerns the government is becoming less willing to bail out banks in the event of a financial crisis.

Commodities at 0715 Et

Gold futures : $1,307.5; -0.11 pct

US crude : $97.68; +0.03 pct

Brent crude : $104.85; -0.16 pct

LME 3-month copper : $7,018; +0.33 pct

Analyst Research Highlights

Alliance Grain : Canaccord raises target price to C$26 from C$23.50; rating buy

Power Financial : CIBC cuts price target to C$39.50 from C$40; sector outperformer

SNC-Lavalin : CIBC raises price target to C$60 from C$58; rating sector performer

u.s. Economic Data Due on Monday

No major economic events are scheduled.

For Canadian Markets News, Click on Codes:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

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$1= $1.10 Canadian Reporting by Nikhil Kumar; Editing by Ted Kerr

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