Feb 11 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Wednesday, with March futures on the S&P TSX index down 0.39 percent at 7:15 a.m. ET.
No major economic events are scheduled for Wednesday .
Canada’s benchmark stock index eked out a small gain on Tuesday, with a broad but shallow rally mostly canceled out by resources stocks’ retreat amid further oil price slips.
Dow Jones Industrial Average e-mini futures were down 0.18 percent at 7:15 a.m. ET on Wednesday, while S&P 500 e-mini futures were down 0.13 percent and Nasdaq 100 e-mini futures were down 1.50 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Air Canada, the largest airline in the country by revenue, reported a bigger quarterly net loss as a weak Canadian dollar contributed to a 9 percent rise in operating costs.
U.S. fertilizer company Mosaic Co said quarterly profit nearly tripled, helped by a gain of 10 cents per share and strong demand for phosphates and potash.
Kinross Gold Corp will not go ahead with a $1.6 billion expansion of its Tasiast mine in Africa’s northwest because of the weak gold price, the Toronto-based miner said on Tuesday, as it also reported an unexpected fourth-quarter loss.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,232.5; +0.07 pct
US crude : $49.84; -0.36 pct
Brent crude : $55.81; -1.1 pct
LME 3-month copper : $5,662.5; +1.21 pct
ANALYST RESEARCH HIGHLIGHTS
Avigilon Corp CIBC raises price target to C$28 from C$25
First Quantum Minerals Nomura cuts price target to C$17 from C$18
Intact Financial Corp CIBC raises price target to C$98 from C$96
U.S. ECONOMIC DATA DUE ON WEDNESDAY
1400 Federal budget for Jan: Expected -$10.0 bln; Prior +$2.0 bln
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$1.26 Reporting by Nandi Kaul in Bengaluru; Editing by Savio D’Souza
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