Sept 14 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Wednesday as investors remained cautious, a day after the index closed at its lowest in more than two months.
Canadian stocks fell on Tuesday as oil prices weighed on energy shares and heavyweight banking and mining stocks also lost ground amidst a broad retreat.
Carolyn Wilkins, senior deputy governor at the Bank of Canada, added to the caution by saying that the reduced potential for global economic growth and resultant lower neutral interest rates could pose risks for financial stability.
September futures on the S&P TSX index were down 0.11 percent at 7:15 a.m. ET.
Dow Jones Industrial Average e-mini futures were up 0.11 percent at 7:15 a.m. ET. S&P 500 e-mini futures were up 0.14 percent and Nasdaq 100 e-mini futures were up 0.22 percent.
Canada’s Liberal government on Tuesday expressed confidence it could appoint new panel members to assess TransCanada Corp’s Energy East pipeline, even though industry observers say it might be hard to find qualified candidates.
ANALYST RESEARCH HIGHLIGHTS
Bank of Nova Scotia : Citigroup raises target price to C$76 from C$70
Potash Corp : Stifel raises to “buy” from “hold”
Teck Resources Ltd : CIBC raises target price to C$28 from C$23
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,321.8; +0.17 pct
US crude : $45.16; +0.58 pct
Brent crude : $47.29; +0.4 pct
LME 3-month copper : $4,714.00; +1.38 pct
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Import prices mm for August: Expected -0.1 pct; Prior 0.1 pct
0830 Export prices mm for August: Expected 0.1 pct; Prior 0.2 pct
1100 TR IPSOS PCSI for September: Prior 57.70
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$1.32) (Reporting by Sai Sharanya Khosla in Bengaluru; Editing by Saumyadeb Chakrabarty)
Our Standards: The Thomson Reuters Trust Principles.