Aug 11 (Reuters) - Stock futures indicated a higher start to the week for Canada’s main stock index as the risk of direct conflict between Russia and Ukraine eased and Middle East tensions appeared less acute.
September futures on the S&P TSX index <0#SXF:> were up 0.28 percent at 0715 ET.
Housing starts data is due at 0815 ET.
The Toronto Stock Exchange’s S&P/TSX composite index climbed on Friday after Russia said it had ended military exercises near the Ukraine border, a move that was seen as a step away from the brink in the Ukraine crisis.
Dow Jones Industrial Average e-mini futures were up 0.4 percent at 0715 ET, while S&P 500 e-mini futures were up 0.47 percent and Nasdaq 100 e-mini futures were up 0.57 percent.
Standard & Poor’s said on Friday it had revised its outlook on Canadian banks to “negative,” due to concerns the government is becoming less willing to bail out banks in the event of a financial crisis.
COMMODITIES AT 0715 ET
Gold futures : $1,307.5; -0.11 pct
US crude : $97.68; +0.03 pct
Brent crude : $104.85; -0.16 pct
LME 3-month copper : $7,018; +0.33 pct
ANALYST RESEARCH HIGHLIGHTS
Alliance Grain : Canaccord raises target price to C$26 from C$23.50; rating buy
Power Financial : CIBC cuts price target to C$39.50 from C$40; sector outperformer
SNC-Lavalin : CIBC raises price target to C$60 from C$58; rating sector performer
U.S. ECONOMIC DATA DUE ON MONDAY
No major economic events are scheduled.
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Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory
$1= $1.10 Canadian Reporting by Nikhil Kumar; Editing by Ted Kerr
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