May 27 (Reuters) - Stock futures pointed to a slightly higher opening for Canada’s main stock index on Wednesday ahead of the Bank of Canada’s rate decision announcement due at 10 a.m. ET (1400 GMT).
June futures on the S&P TSX index were up 0.03 percent at 7:15 a.m. ET.
The Bank of Canada will issue its decision on interest rates but is expected to keep its key rate at 0.75 percent.
Canada’s main stock index stumbled on Tuesday as gold miners, banks and energy companies led a broad sell-off that had value investors cheering as data reminded the market that U.S. interest rates will eventually rise.
Dow Jones Industrial Average e-mini futures were up 0.1 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.11 percent and Nasdaq 100 e-mini futures were up 0.12 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
National Bank of Canada, the country’s sixth-largest lender, on Wednesday reported a 12.5 percent rise in quarterly profit, largely helped by its financial markets business.
Crescent Point Energy Inc, Canada’s No.4 independent oil and gas producer, said on Tuesday it has agreed to acquire Legacy Oil + Gas Inc for shares and debt worth C$1.53 billion ($1.23 billion), adding oil production in its core regions in Western Canada and North Dakota.
General Electric Co is in advanced talks to sell assets of its vehicle fleet management business, GE Capital Fleet Services, to Element Financial Corp, Bloomberg reported, citing people familiar with the matter.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,185.40; -0.1 pct
US crude : $58.19; +0.3 pct
Brent crude : $63.76; -0.1 pct
LME 3-month copper : $6,093.00; -0.2 pct
ANALYST RESEARCH HIGHLIGHTS
Encana : SocGen raises target price to C$17 from C$15
Timmins Gold : BMO resumes coverage with “market perform”
Crescent Point : Barclays raises target price to C$35 from C$34
U.S. ECONOMIC DATA DUE ON WEDNESDAY
Build permits r number mm for April: Prior +1.143 mln
Build permits r change mm for April: Prior +10.1 pct
0700 Mortgage Market Index: Actual +399.9; Prior +406.5
0700 MBA Purchase Index: Actual +201.5; Prior +199.1
0700 Mortgage Refinance Index: Actual +1537.8; Prior +1600.6
0700 MBA 30-year mortgage rate: Actual +4.07 pct; Prior +4.04 pct
1030 Texas Service Sector Outlook for May: Prior -1.0
1030 Dallas Fed Services Revenue for May: Prior +14.6
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Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory
$1= C$1.24 Reporting by Nandi Kaul in Bengaluru; Editing by Sriraj Kalluvila
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