July 27, 2016 / 11:52 AM / a year ago

CANADA STOCKS-Futures rise as Japan stimulus boosts global equities

3 Min Read

July 27 (Reuters) - Canada's main stock index was set to open higher on Wednesday, tracking global equities after Japanese Prime Minister Shinzo Abe unveiled a surprisingly large $265 billion stimulus package to reflate Japan's economy.

The Bank of Japan is expected to match the measures with monetary stimulus at its rate review meeting on Friday.

Investor focus was also on quarterly results from major companies including Barrick Gold Corp, Goldcorp Inc and Suncor Energy Inc later in the day.

September futures on the S&P TSX index were up 0.14 percent at 7:30 a.m. ET.

Canada's main stock index rose on Tuesday, helped by gains in stocks of gold miners, other materials companies and banks, as bullion prices rose ahead of the U.S. Federal Reserve interest rate meeting.

No major Canadian data is scheduled for release on Tuesday.

Dow Jones Industrial Average e-mini futures were up 0.19 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were up 0.14 percent and Nasdaq 100 e-mini futures were up 0.69 percent.

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

Top Stories

Canadian miner Sherritt International Corp is confident it and its partners in a large Madagascar nickel mine will reach agreement soon with lenders to defer repaying project loans for several years, CEO David Pathe said on Tuesday.

An oil spill into a major Canadian river from a Husky Energy Inc pipeline started late on July 20, but flows were not shut down until the following morning, the company said on Tuesday.

COMMODITIES AT 7:30 a.m. ET

Gold futures : $1,320; -0.06 pct

US crude : $42.70; -0.49 pct

Brent crude : $44.42; -0.98 pct

LME 3-month copper : $4,882.50; -0.96 pct

Analyst Research Highlights

Bonavista Energy Corp : Raymond James raises price target to C$3.75 from C$3.50

Whitecap Resources Inc : Canaccord Genuity starts coverage with "buy" rating

u.s. Economic Data Due on Wednesday

0830 Manufacturers New Orders, Durable goods total for Jun: Expected -1.1 pct; Prior -2.3 pct

0830 Durable goods excluding transportation for Jun: Expected 0.3 pct; Prior -0.3 pct

0830 Durable goods excluding defense mm for Jun: Prior -0.9 pct

0830 Nondefense capital goods excluding aircraft for Jun: Expected 0.3 pct; Prior -0.4 pct

1000 Pending Home Sales Index for Jun: Prior 110.8

1000 Pending home sales change mm for Jun: Expected 1.4 pct; Prior -3.7 pct

1400 Fed funds target rate: Expected 0.375 pct; Prior 0.375 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$1.32) (Reporting by Nikhil Kumar in Bengaluru; Editing by Kirti Pandey)

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