June 15, 2016 / 11:32 AM / a year ago

CANADA STOCKS-Futures up ahead of Fed policy decision

June 15 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Wednesday as expectations of a dovish stance from the U.S. Federal Reserve soothed investor concerns over whether Britain will vote to leave the European Union.

June futures on the S&P TSX index were up 0.20 percent at 7:25 a.m. ET.

Statistics Canada releases factory sales data for April at 8:30 a.m. ET. Manufacturing sales are forecast to have risen by 0.6 percent in April, more than offsetting the decline seen in the previous month.

Canada’s main stock index fell for a fifth straight day on Tuesday, hitting a three-week low as financial and resource stocks retreated ahead of Britain’s vote on whether to leave the European Union.

Dow Jones Industrial Average e-mini futures were up 0.22 percent at 7:25 a.m. ET, while S&P 500 e-mini futures were up 0.18 percent and Nasdaq 100 e-mini futures were up 0.18 percent.

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

TOP STORIES

Borrowing activity by Canadian small businesses fell for the fifth consecutive month in April, data from PayNet showed on Wednesday, pointing to an economy that is struggling to regain momentum after the steep drop in oil prices over the past two years.

Canadian online gambling company Amaya Inc said on Tuesday that proposed board nominee Paul McFeeters was unable to serve due to personal reasons.

COMMODITIES AT 7:25 a.m. ET

Gold futures : $1,282.20; -0.26 pct

US crude : $47.96; -1.09 pct

Brent crude : $49.10; -1.46 pct

LME 3-month copper : $4,638.00; +2.84 pct

ANALYST RESEARCH HIGHLIGHTS

ARC Resources : CIBC starts coverage with “sector outperformer”

Baytex Energy Corp : CIBC starts coverage with “sector performer”

Vermilion Energy : CIBC starts coverage with “sector outperformer”

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 NY Fed Manufacturing for Jun: Expected -4.00; Prior -9.02

0830 Producer Prices final demand yy for May: Expected 0.1 pct; Prior 0.0 pct

0830 Producer Prices final demand mm for May: Expected 0.3 pct; Prior 0.2 pct

0830 Producer Prices ex food/energy yy for May: Expected 1.0 pct; Prior 0.9 pct

0830 Producer Prices ex food/energy mm for May: Expected 0.1 pct; Prior 0.1 pct

0830 Producer Prices ex food/energy/trasport yy for May: Prior 0.9 pct

0830 Producer Prices ex food/energy/transport mm for May: Prior 0.3 pct

0915 Industrial output mm for May: Expected -0.2 pct; Prior 0.7 pct

0915 Capacity utilization mm for May: Expected 75.2 pct; Prior 75.4 pct

0915 Manufacturing output mm for May: Expected 0.0 pct; Prior 0.3 pct

1400 Fed funds target rate: Expected 0.375 pct; Prior 0.375 pct

1600 Net L-T flows, exswaps for Apr: Prior 78.1 bln

1600 Foreign buying, T-bonds for Apr: Prior 23.6 bln

1600 Overall net capital flow for Apr: Prior -98.3 bln

1600 Net L-T flows, including swaps for Apr: Prior 64.6 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$1.28) (Reporting by Riniki Sanyal in Bengaluru; Editing by Savio D‘Souza)

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