Nov 29 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Wednesday following Royal Bank of Canada’s strong quarterly results.
December futures on the S&P TSX index were up 0.09 percent at 7:15 a.m. ET.
Canada’s main stock index slipped on Tuesday, weighed by a decline in Bank of Nova Scotia shares after the company agreed to buy a bank in Chile, and as investors were rattled after North Korea fired a ballistic missile.
Dow Jones Industrial Average e-mini futures were up 0.31 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.12 percent and Nasdaq 100 e-mini futures were up 0.09 percent.
Royal Bank of Canada reported fourth-quarter earnings that beat market expectations helped by strong growth in its retail banking, investment banking and wealth management businesses.
TransCanada Corp’s Keystone crude pipeline must operate at a 20 percent pressure reduction after it restarts, the U.S. pipeline regulator said on Tuesday, nearly two weeks after the line was shut after it leaked 5,000 barrels of oil in South Dakota.
ANALYST RESEARCH HIGHLIGHTS
Alimentation Couche-Tard: CIBC raises price target to C$77 from C$71
Bank of Nova Scotia: RBC raises target price to C$91 from C$87
Mountain Province Diamonds Inc: RBC cuts target price to C$3.70 from C$4.40
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1293.8; fell 0.08 percent
US crude: $57.85; fell 0.24 percent
Brent crude: $63.53; fell 0.13 percent
LME 3-month copper: $6770; fell 0.51 percent
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Corporate profits preliminary for Q3: Prior 0.1 pct
0830 GDP 2nd estimate for Q3: Expected 3.2 pct; Prior 3.0 pct
0830 GDP sales preliminary for Q3: Expected 2.4 pct; Prior 2.3 pct
0830 GDP cons spending preliminary for Q3: Prior 2.4 pct
0830 GDP deflator preliminary for Q3: Expected 2.2 pct; Prior 2.1 pct
0830 Core PCE prices preliminary for Q3: Expected 1.4 pct; Prior 1.3 pct
0830 PCE prices preliminary for Q3: Expected 1.5 pct; Prior 1.5 pct
1000 Pending Homes Index for Oct: Prior 106.0
1000 Pending sales change mm for Oct: Expected 1.0 pct; Prior 0.0 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 Nishit Kunal in Bengaluru; Editing by Bernard Orr)
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