December 12, 2017 / 12:37 PM / 2 months ago

CANADA STOCKS-Futures flat as traders await Fed rate move

Dec 12 (Reuters) - Canada’s main stock index was set to open little changed on Tuesday, tracking a halt in a three-day rally for global stock markets ahead of a handful of major central bank meetings.

The U.S. Federal Reserve is widely expected to raise interest rates for the third time in a year when it ends its two-day meeting on Wednesday, while the European Central Bank and the Bank of England both meet for the last time in 2017.

December futures on the S&P TSX index were up just 0.02 percent at 7:15 a.m. ET.

The materials-heavy Toronto market inched higher on Monday, boosted by gains for energy and other commodity-related stocks as oil prices rose.

Brent crude prices gained another 1 percent on Tuesday, but prices of aluminum and copper both fell.

For comparison, futures for New York’s Dow Jones Industrial Average were up 0.11 percent at 7:15 a.m. ET, while S&P 500 e-mini futures gained just 0.06 percent and Nasdaq 100 e-mini futures were down 0.01 percent.

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TOP STORIES

Bombardier Transportation, the railway division of Canada’s Bombardier Inc, said on Tuesday it signed a $724 million contract with Britain’s Corelink Rail Infrastructure and West Midlands Trains.

ANALYST RESEARCH HIGHLIGHTS

Cascades Inc: CIBC raises price target to C$17 from C$14

Trican Well Service Ltd: CIBC cuts price target to C$6.25 from C$6.75

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1242; -0.14 percent

US crude: $58.35; +0.62 percent

Brent crude: $65.66; +1.5 percent

LME 3-month copper: $6640.5; -0.44 percent

U.S. ECONOMIC DATA DUE ON TUESDAY

0830 PPI final demand yy for Nov: Expected 2.9 pct; Prior 2.8 pct

0830 PPI final demand mm for Nov: Expected 0.3 pct; Prior 0.4 pct

0830 PPI ex food/energy yy for Nov: Expected 2.3 pct; Prior 2.4 pct

0830 PPI ex food/energy mm for Nov: Expected 0.2 pct; Prior 0.4 pct

0830 PPI ex food/energy/transport yy for Nov: Prior 2.3 pct

0830 PPI ex food/energy/transport mm for Nov: Prior 0.2 pct

1400 Federal budget for Nov: Prior -$63.00 bln

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 Nikhil Kumar in Bengaluru)

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