December 16, 2015 / 12:41 PM / 2 years ago

TSX looks set to open higher ahead of Fed decision

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

(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 SXFc2 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 1YMc2 were up 0.49 percent at 7:15 a.m. ET, while S&P 500 e-mini futures Esc2 were up 0.43 percent and Nasdaq 100 e-mini futures NQc2 were up 0.40 percent. [.N]

Reporting by Ayesha Sruti Ahmed in Bengaluru; Editing by Ted Kerr

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