Nov 6 (Reuters) - Futures for Canada’s main stock index were steady on Wednesday, as investors awaited more clarity on U.S.-China trade developments.
The United States and China could sign a “phase one” trade deal this month, but it is still unclear where U.S. President Donald Trump and Chinese President Xi Jinping will meet to sign the agreement.
Meanwhile, oil prices declined for the first time in three sessions, pulled down by a larger-than-expected build in U.S. crude stocks and weak economic data from the euro zone.
December futures on the S&P/TSX index edged up 0.01% at 7:00 a.m. ET.
Canada’s Ivey Purchasing Manager’s Index is expected at 10:00 a.m. ET
The Toronto Stock Exchange’s S&P/TSX composite index closed 0.07% higher at 16,681.92 on Tuesday.
Dow Jones Industrial Average e-mini futures were up 0.07% at 7:00 a.m. ET, while S&P 500 e-mini futures gained 0.05% and Nasdaq 100 e-mini futures rose 0.08%.
Barrick Gold’s quarterly adjusted profit nearly tripled, as the world’s second-largest gold producer benefited from higher gold output and prices.
Bombardier said it had alleviated technical problems that have held up deliveries of trains to Swiss Federal Railways (SBB) as the Canadian plane-and-train-maker aims to complete the long-delayed contract by mid-2021.
Waste management company GFL Environmental said on Tuesday it will cancel its initial public offering, with no immediate plans to revisit the markets, after institutional investors pressed the Canadian firm to price its shares below the marketed range.
A U.S. regulator on Tuesday ordered that a segment of the Keystone pipeline that spilled more than 9,000 barrels of crude in rural North Dakota remain shut until operator TC Energy submits a restart and return-to-service plan because of the hazards posed.
ANALYST RESEARCH HIGHLIGHTS
Air Canada: JPMorgan raises to “overweight” from “neutral”
Equitable Group Inc: RBC raises price target to C$137 from C$120
Gibson Energy Inc: Canaccord Genuity raises price target to C$28 from C$26
Goeasy Ltd: Desjardins raises price target to C$72 from C$67
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1484.7; +0.07%
US crude: $57.12; -0.19%
Brent crude: $62.65; -0.49%
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Labor costs preliminary for Q3: Expected 2.2%; Prior 2.6%
0830 Productivity preliminary for Q3: Expected 0.9%; Prior 2.3%
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$1= C$1.32 Reporting by Lisa Pauline Mattackal in Bengaluru; Editing by Maju Samuel
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