February 18, 2015 / 12:42 PM / in 3 years

TSX set to open higher as Greece pessimism fades

(Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Wednesday, tracking gains in Asia and Europe, as pessimism over the Greek deal saga faded.

A man walks past an old Toronto Stock Exchange (TSX) sign in Toronto, June 23, 2014. REUTERS/Mark Blinch

March futures on the S&P TSX index SXFc1 were up 0.19 percent at 7:15 a.m. ET.

Wholesale trade data is due at 8:30 a.m. ET. ECONCA

Canada’s main stock index edged higher on Tuesday as a jump in Restaurant Brands International Inc (QSR.TO), following the fast-food chain’s quarterly report, helped offset declines in the natural resource sectors after commodity prices weakened.

Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.04 percent at 7:15 a.m. ET on Wednesday, while S&P 500 e-mini futures ESc1 were down 0.02 percent and Nasdaq 100 e-mini futures NQc1 were up 0.07 percent.

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

TOP STORIES

Canada is imposing sanctions against top Russian oil firm NK Rosneft OAO and the head of conglomerate Rostec, among others, in response to the actions of Russian-backed militants in Ukraine, Ottawa said on Tuesday.

Cenovus Energy Inc (CVE.TO), Canada’s No. 2 independent oil producer, said on Tuesday that it had agreed to sell 67.5 million shares to a group of underwriters as it seeks to raise about C$1.5 billion for its 2015 capital spending budget as oil prices remain weak.

COMMODITIES AT 7:15 a.m. ET

Gold futures GCc1: $1,208.5; +0.03 pct

US crude CLc1: $52.73; -1.49 pct

Brent crude LCOc1: $61.34; -1.9 pct

LME 3-month copper CMCU3: $5,689.5; +0.71 pct

ANALYST RESEARCH HIGHLIGHTS

Trinidad Drilling (TDG.TO): Raymond James raises to outperform from market perform

Exfo Inc (EXF.TO): CIBC cuts to sector underperformer from sector performer

Rona Inc RON.TO: National Bank Financial raises to outperform from sector perform

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Building permits number for Jan: Expected +1.069 mln; Prior +1.058 mln

0830 Build permits change mm for Jan: Prior +0.6 pct

0830 Housing Starts number mm for Jan: Expected +1.070 mln; Prior +1.089 mln

0830 House starts change mm for Jan: Prior +4.4 pct

0830 PPI final demand mm for Jan: Expected -0.4 pct; Prior -0.2 pct

0830 PPI ex-food/energy mm for Jan: Expected +0.1 pct; Prior +0.3 pct

0830 PPI final demand yy for Jan: Expected +0.3 pct; Prior +1.1 pct

0830 PPI ex-food/energy yy for Jan: Expected +2.0 pct; Prior +2.1 pct

0915 Industrial output mm for Jan: Prior -0.1 pct

0915 Capacity utilization mm for Jan: Expected +79.9 pct; Prior +79.7 pct

0915 Manufacturing output mm for Jan: Expected +0.3 pct; Prior +0.3 pct

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

Reuters global stocks poll for Canada EQUITYPOLL1 <EPOLL/CA>Canadian markets directory CANADA

Reporting by Nandi Kaul in Bengaluru; Editing by Simon Jennings

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