February 27, 2019 / 12:42 PM / 8 months ago

CANADA STOCKS-TSX futures drop on global cues

Feb 27 (Reuters) - Futures for Canada’s main stock index fell on Wednesday, tracking a drop in global markets.

European stocks opened lower and Asian markets fell after fresh hostilities between India and Pakistan flared up.

March futures on the S&P/TSX index were down 0.23 percent at 7:00 a.m. ET.

Consumer Price Index numbers are due at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX rose 10.88 points, or 0.07 percent, to close at 16,067.91 on Tuesday.

Dow Jones Industrial Average e-mini futures were down 0.22 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.19 percent and Nasdaq 100 e-mini futures edged down 0.17 percent.

TOP STORIES

The U.S. Commerce Department announced on Tuesday it will open a new anti-dumping probe to determine whether fabricated structural steel from Canada, China and Mexico is being sold at below fair value.

Australian rural services firm Ruralco Holdings Ltd backed a $337 million takeover bid by Canada’s Nutrien Ltd , the latest potential tie-up in a sector consolidating in the face of severe drought.

A Bank of Canada-led working group proposes expanding the range of transactions used in the calculation of the Canadian Overnight Repo Rate Average interest-rate benchmark, according to a consultation paper published by the central bank on Tuesday.

ANALYST RESEARCH HIGHLIGHTS

Bank of Montreal: National Bank of Canada raises price target to C$116 from C$114

Bank of Nova Scotia: CIBC downgrades rating to neutral

Husky Energy Inc: RBC cuts price target to C$17 from C$19

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,329.2; +0.05 pct

US crude: $56.53; +1.86 pct

Brent crude: $66.16; +1.46 pct

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Advance goods trade balance for Dec: Prior -$76.98 bln

0830 Retail inventories ex-auto advance for Dec: Prior 0.7 pct

1000 Durables ex-defense, R mm for Dec: Prior 1.8 pct

1000 Durable goods, R mm for Dec: Prior 1.2 pct

1000 Factory orders mm for Dec: Expected 0.5 pct; Prior -0.6 pct

1000 Durables ex-transport R mm for Dec: Prior 0.1 pct

1000 Nondefense cap ex-air R mm for Dec: Prior -0.7 pct

1000 Factory ex-transport mm for Dec: Prior -1.3 pct

1000 Pending Homes Index for Jan: Prior 99.0

1000 Pending sales change mm for Jan: Expected -0.4 pct; Prior -2.2 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$1.31)

Reporting by Hrithik Kiran Bagade in Bengaluru; Editing by James Emmanuel

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