January 22, 2015 / 12:37 PM / 3 years ago

CANADA STOCKS-Futures rise ahead of ECB decision

3 Min Read

Jan 22 (Reuters) - Canadian stock were set for a higher opening on Thursday ahead of European Central Bank's (ECB) policy meeting, where it is expected to announce a plan to buy government bonds.

March futures on the S&P TSX index were up 0.47 percent at 7.15 a.m. ET.

No economy data is due on Thursday.

Canada's main stock index rallied on Wednesday after the central bank cut its benchmark rate in a shock move, helping boost shares of energy companies as well as interest-sensitive banks and other financial issues.

The ECB's meeting is scheduled for 1330 GMT on Thursday.

Dow Jones Industrial Average e-mini futures were up 0.20 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were up 0.16 percent and Nasdaq 100 e-mini futures were up 0.03 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

Top Stories

Royal Bank of Canada said it would buy City National Corp, a U.S. lender serving high net worth clients, in a cash-and-stock deal valued at $5.4 billion.

The Bank of Canada joined the list of "unpredictable" central banks on Wednesday with a shock quarter point rate cut as the European Central Bank prepared a 600 billion euro ($695 billion) bond-buying program aimed at lifting Europe out of its economic doldrums.

Suncor Energy expects Enbridge Inc's reversed Line 9B crude pipeline to start up towards the end of the second quarter of 2015, the company's chief financial officer Alister Cowan said on Wednesday.

COMMODITIES AT 7.15 a.m. ET

Gold futures : $1,285.8; -0.61 pct

US crude : $48.91; +2.34 pct

Brent crude : $50.30; +2.69 pct

LME 3-month copper : $5,705.00; -1.14 pct

Analyst Research Highlights

Thomson Reuters Corp : NBF raises target price to C$52 from C$47

B2gold Corp : CIBC raises target price to C$4 from C$3.75

u.s. Economic Data Due on Thursday

0830 Initial jobless claims: Expected 300,000; Prior 316,000

0830 Continued jobless claims: Expected 2.410 mln; Prior 2.424 mln

0900 Monthly home price mm for Nov: Prior 0.6 pct

0900 Monthly home price yy for Nov: Prior 4.5 pct

0900 Monthly Home Price Index for Nov: Prior 215.4

1100 KC Fed manufacturing for Jan: Prior 9

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$1.23 Reporting by Abhinav Kaul in Bengaluru; Editing by Saumyadeb Chakrabarty

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