Oct 29 - Stock futures pointed to a lower opening for Canada’s main stock index on Wednesday as investors await guidance from the U.S. Federal Reserve when it wraps up a two-day policy meeting later in the day.
December futures on the S&P TSX index were down 0.05 percent at 7.15 a.m. ET.
Producer prices data is due at 8.30 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index rose more than 1 percent on Tuesday, with higher crude and other commodity prices helping boost energy and mining companies as investors returned to buying after a sharp sell-off in recent weeks.
Dow Jones Industrial Average e-mini futures were down 0.05 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were down 0.18 percent and Nasdaq 100 e-mini futures were down 0.25 percent.
Miner Teck Resources Ltd reported a 68.5 percent drop in quarterly earnings, hurt by lower prices for steelmaking coal and a fall in copper production.
Oil sands producer MEG Energy Corp reported weaker-than-expected quarterly revenue and operating profit due to lower realized prices for bitumen and higher operating costs.
Royal Bank of Canada said on Tuesday it pulled out of and forfeited fees in the Alibaba initial public offering, after an employee commented on the deal during the quiet period before the world’s largest IPO.
COMMODITIES AT 7.15 a.m. ET
Gold futures : $1,228.50; -0.04 pct
US crude : $82.17; +0.96 pct
Brent crude : $86.97; +1.08 pct
LME 3-month copper : $6,777.75; -0.25 pct
DH Corp : TD Securities raises price target to C$38 from C$36; rating “buy”
Norbord Inc : RBC cuts target price to C$23 from C$24; rating “sector perform”
Pacific Rubiales Energy Corp : TD Securities cuts rating to “reduce” from “hold”
1400 Fed Funds Target Rate: Prior 0.25 pct
1400 QE Total: Prior 15.000 bln
1400 QE MBS: Prior 5.00 bln
1400 QE Treasuries: Prior 10.00 bln
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$1= C$1.12 Reporting by Nikhil Kumar in Bangalore; Editing by Savio D'Souza