Aug 6 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Wednesday after reports of a build-up of Russian troops near the Ukraine border dampened investors’ risk appetite across global markets.
September futures on the S&P TSX index <0#SXF:> were down 0.01 percent at 0715 ET.
June data for Canadian trade balance is due at 0830 ET.
The TSX index declined on Tuesday as sluggish economic data from China and renewed geopolitical tensions in Ukraine weighed on the market.
European stocks fell on Wednesday as nervous investors took refuge in high-rated bonds after reports of Russian troop build-up.
Dow Jones Industrial Average e-mini futures were down 0.37 percent at 0715 ET, while S&P 500 e-mini futures were down 0.38 percent. Nasdaq 100 e-mini futures were down 0.52 percent.
China’s decision to investigate two Canadians for suspected spying highlights a sharp and unexpected deterioration in bilateral ties just months ahead of a trip by Canada’s Prime Minister Stephen Harper to Beijing.
Oil sands producer Athabasca Oil Corp reported a bigger quarterly loss as it set aside C$49 million to settle some claims by PetroChina Co Ltd’s Phoenix Energy Holdings Ltd.
Canada and the European Union have finalized the text of a proposed free trade deal after months of disagreements, but implementation is still about two years away, Canadian officials said on Tuesday.
COMMODITIES AT 0715 ET
Gold futures : $1,289.9; +0.45 pct
US crude : $97.60; +0.23 pct
Brent crude : $104.84; +0.22 pct
LME 3-month copper : $6,978.50; -1.08 pct
ANALYST RESEARCH HIGHLIGHTS
TMX Group : National Bank Financial raises target to C$63 from C$60; rating “sector perform”
Avigilon Corp : CIBC cuts target to C$45 from C$50; rating “sector outperformer”
Luna Gold Corp : Canaccord Genuity, National Bank Financial downgrade the stock
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 International trade mm for June: Expected -$44.7 bln, prior -$44.4 bln
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$1= $1.10 Canadian Reporting by Mononshila Deka in Bangalore; Editing by Saumyadeb Chakrabarty
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