March 6, 2019 / 12:25 PM / 6 months ago

CANADA STOCKS-TSX futures flat as investors await interest rate decision

March 6 (Reuters) - Stock futures pointed to a flat opening for Canada’s main stock index on Wednesday, ahead of the Bank of Canada’s interest rate decision.

The BoC is widely expected to hold rates steady at 1.75 percent, with a majority of analysts anticipating another hike later this year, even as recent data has clouded the outlook and could force a more dovish tone.

March futures on the S&P/TSX index edged up 0.02 percent at 7:00 a.m. ET.

The rate decision is expected at 10:00 a.m. ET, while December trade balance data is scheduled for release at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX ended 48.41 points, or 0.30 percent, higher to close at 16,086.54 on Tuesday.

Dow Jones Industrial Average e-mini futures were down 0.15 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.14 percent and Nasdaq 100 e-mini futures were down 0.11 percent.

TOP STORIES

China’s foreign ministry said that the country’s customs officials had frequently discovered “hazardous pests” in samples taken recently from Canadian canola imports.

Centerra Gold Inc is likely to reinstate its dividend after it closes a deal with Kyrgyzstan to resolve a longstanding dispute over the Kumtor gold mine, its Chief Executive Scott Perry said in an interview.

ANALYST RESEARCH HIGHLIGHTS

Great Canadian Gaming Corp: RBC cuts price target to C$64 from C$67

MAG Silver Corp: BMO raises price target to C$17.5 from C$16.5

Cardinal Energy Ltd: Raymond James raises price target to C$4.25 from C$3.75

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,286.7; +0.16 pct

US crude: $56.13; -0.76 pct

Brent crude: $65.82; -0.06 pct

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0815 ADP national employment for Feb: Expected 189,000; Prior 213,000

0830 International trade for Dec: Expected -$57.9 bln; Prior -$49.3 bln

0830 Goods trade balance (R) for Dec: Prior -$79.49 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$1.34)

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

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