CANADA STOCKS-TSX looks set to open higher ahead of Fed decision
Dec 16 (Reuters) - Canada's main stock index looked set to open higher on Wednesday as investors prepared for the first U.S. interest rate increase since 2006.
The Federal Reserve is expected to announce a token hike of 25 basis points, from near zero, at 2 p.m. ET (1900 GMT).
March futures on the S&P TSX index were up 0.63 percent at 7:15 a.m. ET.
Canada's main stock index jumped on Tuesday in a broad rally led by shares in energy companies as crude prices rose. Bank stocks also gained.
Dow Jones Industrial Average e-mini futures were up 0.49 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.43 percent and Nasdaq 100 e-mini futures were up 0.40 percent.
Valeant Pharmaceuticals International Inc cut its revenue and profit forecasts for 2015, but said it still expected double-digit percentage sales growth through higher volumes in 2016.
The Public Sector Pension Investment Board, one of Canada's 10 largest pension fund managers, is considering entering the oil and gas sector as weak crude prices create opportunities for long-term investors, Chief Executive Andre Bourbonnais said. Continued...