August 24, 2016 / 11:42 AM / a year ago

CANADA STOCKS-Futures point to higher opening

August 24 (Reuters) - Stock futures indicated a higher opening for Canada’s main stock index on Wednesday, a day after the index hit a one-week high.

September futures on the S&P TSX index were up 0.10 percent at 7:15 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index edged up to a one-week high on Tuesday as better-than-expected earnings for Bank of Montreal supported bank stocks, offsetting losses for the materials group.

Dow Jones Industrial Average e-mini futures were up 0.01 percent at 7:15 a.m. ET. S&P 500 e-mini futures were up 0.03 percent and Nasdaq 100 e-mini futures were up 0.04 percent.

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

TOP STORIES

Royal Bank of Canada on Wednesday reported third-quarter results that beat market expectations, with funds set aside to cover bad loans falling thanks to higher oil prices.

ANALYST RESEARCH HIGHLIGHTS

Alimentation Couche-Tard Inc : Barclays raises to “overweight” from “equal weight”

Bank of Montreal : CIBC raises target price to C$88 from C$85; “sector performer”

Alterra Power : National Bank Financial ups target to C$0.80 from C$0.75; “outperform”

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1335; -0.42 percent

US crude : $47.3; -1.66 percent

Brent crude : $49.5; -0.92 percent

LME 3-month copper : $4680.5; -0.63 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0900 Monthly home price mm for June: Prior 0.2 pct

0900 Monthly home price yy for June: Prior 5.6 pct

0900 Monthly Home Price Index for June: Prior 234.3

1000 Existing home sales for July: Expected 5.51 mln; Prior 5.57 mln

1000 Existing home sales percentage change for July: Expected -0.4 pct; Prior 1.1 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$1.29 Reporting by Sai Sharanya Khosla in Bengaluru; Editing by Sriraj Kalluvila

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