April 11, 2018 / 11:42 AM / 5 months ago

CANADA STOCKS-TSX futures lower as Syria tensions weigh

April 11 (Reuters) - Futures for Canada’s main stock index dipped on Wednesday as investor worries over tensions in Syria escalated after U.S. President Donald Trump warned Russia of a forthcoming response to a suspected chemical attack in the Asian country.

June futures on the S&P TSX index were down 0.70 percent at 7:15 a.m. ET.

Trump on Wednesday tweeted missiles “will be coming” and blasted Moscow for standing by Syrian President Bashar Assad.

Russia has warned that any U.S. missiles fired at Syria would be shot down and the launch sites targeted, raising the possibility of a U.S.-Russian confrontation.

Canada’s main stock index rose on Tuesday, led by the energy and materials sectors as reduced fears of a global trade war boosted oil prices.

Dow Jones Industrial Average e-mini futures were down 0.97 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 1.01 percent and Nasdaq 100 e-mini futures were down 1.05 percent.

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TOP STORIES

Alberta on Tuesday doubled down on its pledge to financially support a troubled pipeline expansion, saying the province could buy the project outright from Kinder Morgan Canada Ltd as Canada’s federal government reiterated it was “100 percent” behind the build.

Taiwan’s Cathay Financial Holding Co said on Wednesday two of its group firms have scrapped a plan to buy Bank of Nova Scotia’s Malaysian unit as the deal could not closed before its deadline.

ANALYST RESEARCH HIGHLIGHTS

Cenovus Energy Inc: Canaccord Genuity cuts price target to C$14.50 from C$16

Intact Financial Corp: KBW cuts price target to C$105 from C$108

Westjet Airlines Ltd: CIBC cuts price target to C$26 from C$28

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1349; rose 0.52 percent

US crude: $66.25; rose 1.13 percent

Brent crude: $71.77; rose 1.03 percent

LME 3-month copper: $6966; rose 0.3 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Core CPI mm, SA for Mar: Expected 0.2 pct; Prior 0.2 pct

0830 Core CPI yy, NSA for Mar: Expected 2.1 pct; Prior 1.8 pct

0830 CPI Index, NSA for Mar: Expected 249.576; Prior 248.991

0830 Core CPI Index, SA for Mar: Prior 255.75

0830 CPI mm, SA for Mar: Expected 0.0 pct; Prior 0.2 pct

0830 CPI yy, NSA for Mar: Expected 2.4 pct; Prior 2.2 pct

0830 Real weekly earnings mm for Mar: Expected 0.2 pct; Prior 0.3 pct

1400 Federal budget for Mar: Expected -$194 bln; Prior -$215 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$1.26) (Reporting by Sourav Bose in Bengaluru; Editing by Sriraj Kalluvila)

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