CANADA STOCKS-Futures higher ahead of Bank of Canada announcement

Wed Dec 2, 2015 7:30am EST
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Dec 2 (Reuters) - Futures pointed to a higher opening for Canada's main stock index on Wednesday ahead of a Bank of Canada policy announcement on interest rates.

The central bank is widely expected to hold rates at 0.50 percent. The announcement is due at 10:00 a.m. ET (1500 GMT).

The central bank has cut rates twice this year to offset the shock to the economy from a drop in oil prices.

December futures on the S&P TSX index were up 0.26 percent at 7:15 a.m. ET.

Canada's main stock index rallied on Tuesday to its highest closing level in nearly four weeks, led by financials following stronger-than-expected earnings for two of the country's main banks, while resource stocks also gained.

Dow Jones Industrial Average e-mini futures were up 0.04 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.05 percent and Nasdaq 100 e-mini futures were up 0.19 percent. (Morning News Call newsletter; The Day Ahead newsletter


Royal Bank of Canada reported an 11 percent rise in fourth-quarter profit that topped market expectations, driven by gains at its personal, commercial banking and capital markets businesses.   Continued...