Jan 21 (Reuters) - Stock futures pointed to a lower start for Canada’s main stock index on Wednesday as investors remained cautious ahead of Bank of Canada’s rate decision.
Oil prices edged above $48 per barrel, but outlook remained weak.
March futures on the S&P TSX index were down 0.41 percent at 7.15 a.m. ET.
Wholesale trade data for November is due at 8.30 a.m. ET, while Bank of Canada will release its rate decision at 10 a.m. ET.
Canada’s main stock index was little changed on Tuesday, with a rally in the gold-mining sector offset by weakness in energy shares, as investors digested economic data from China and a global growth forecast from the International Monetary Fund.
Dow Jones Industrial Average e-mini futures were down 0.46 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were down 0.33 percent and Nasdaq 100 e-mini futures were down 0.34 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Canadian energy transportation and storage company Inter Pipeline plans to spend C$400 million on its capital program in 2015, less than a third of last year’s budget, the company said on Tuesday.
Canada’s Competition Bureau said on Tuesday it had asked for records from Indigo Books and Music Inc, the country’s biggest bookstore chain, as part of a probe into alleged anti-competitive practices in the e-book market.
COMMODITIES AT 7.15 a.m. ET
Gold futures : $1,297.90; +0.29 pct
US crude : $46.62; +0.32 pct
Brent crude : $48.40; +0.79 pct
LME 3-month copper : $5,623.50; -1.17 pct
ANALYST RESEARCH HIGHLIGHTS
CI Financial Corp : National Bank Financial cuts to “sector perform” from “outperform”
Gran Tierra Energy Inc : Canaccord Genuity raises to “buy” from “hold”
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Building Permits number for Dec: Expected 1.055 mln; Prior 1.052 mln
0830 Build Permits change mm for Dec: Prior -3.7 pct
0830 Housing Starts number mm for Dec: Expected 1.040 mln; Prior 1.028 mln
0830 House Starts change mm for Dec: Prior -1.6 pct
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$1.21) (Reporting by Abhinav Kaul in Bengaluru; Editing by Kirti Pandey)
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