May 21 (Reuters) - Canadian stocks looked set to open higher on Wednesday as investors awaited minutes from the U.S. Federal Reserve’s April policy meeting, which could shed light on the likelihood and timing of interest rate rises.
June futures on the S&P TSX index <0#SXF:> up 0.18 percent at 0715 ET.
No major economic data is due for release.
The index was little changed on Tuesday as an advance in the materials sector and gains in Valeant Pharmaceuticals International Inc helped offset weakness in some financial shares.
Dow Jones Industrial Average futures were up 0.18 percent at 0715 ET, while S&P 500 futures were up 0.19 percent and Nasdaq 100 futures were up 0.38 percent.
Sears Canada Inc’s first-quarter loss more than doubled as sales continued to decline with low demand for spring merchandise.
Rio Alto Mining Ltd said it would buy Sulliden Gold Corp Ltd in a deal valued at about C$300 million, creating a gold miner focused on Peru.
TransCanada Corp on Tuesday submitted new pipeline tariffs with the U.S. Federal Energy Regulatory Commission to move crude along the Keystone pipeline as far as the Gulf Coast.
COMMODITIES AT 0715 ET
Gold futures : $1,294.5; 0.00 pct
US crude : $103.02; +0.67 pct
Brent crude : $109.95; +0.24 pct
LME 3-month copper : $6,805.00; -1.16 pct
ANALYST RESEARCH HIGHLIGHTS
Endeavour Mining : BMO starts rating with market perform
Ensign Energy Services : Barclays cuts rating to underweight from equal weight
Precision Drilling : Barclays raises rating to overweight from equal weight
U.S. ECONOMIC DATA DUE ON WEDNESDAY
1400 FOMC Minutes
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$1= $1.09 Canadian Reporting by Mononshila Deka in Bangalore
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