March 17, 2015 / 11:39 AM / in 3 years

CANADA STOCKS-TSX set for lower start ahead of Fed meeting

March 17 (Reuters) - Stock futures pointed to a lower start for Canada’s main stock index on Tuesday ahead of the U.S. Federal Reserve’s two-day meeting that begins later in the day.

March futures on the S&P TSX index were down 0.14 percent at 7:15 a.m. ET.

Manufacturing sales data for January is due at 8:30 a.m. ET

Canada’s main stock index rose on Monday as most major sectors benefited from bullishness ahead of the Fed policy meeting. A gain in Valeant Pharmaceuticals International Inc’s shares provided further support and helped overcome a fall in oil and gas shares spurred by lower crude prices.

Dow Jones Industrial Average e-mini futures were down 0.32 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.34 percent and Nasdaq 100 e-mini futures were down 0.19 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

A new privately held Malaysian airline intends to buy 20 CS100 aircraft from Bombardier Inc for $1.5 billion, in what could be the Canadian planemaker’s first order in Southeast Asia for its long-delayed CSeries passenger jet program.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,153.60; +0.03 pct

US crude : $43.03; -1.91 pct

Brent crude : $52.97; -1.8 pct

LME 3-month copper : $5,760; -1.5 pct

ANALYST RESEARCH HIGHLIGHTS

Encana Corp : National Bank Financial resumes coverage with “sector perform”

Legumex Walker Inc : Raymond James raises to “outperform” from “market perform”

Dorel Industries Inc : CIBC cuts to “sector underperformer” from “sector performer”

U.S. ECONOMIC DATA DUE ON TUESDAY

0830 Building permits number for Feb: Expected +1.065 mln; Prior +1.060 mln

0830 Build permits change mm for Feb: Prior +0.2 pct

0830 Housing starts number mm for Feb: Expected +1.049 mln; Prior +1.065 mln

0830 House Starts mm Change for Feb: Prior -2.0 pct

0855 Redbook mm: Prior +1.0 pct

0855 Redbook yy: Prior +2.6 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$1.28) (Reporting by Nandi Kaul in Bengaluru; Editing by Kirti Pandey)

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