March 11 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Wednesday, a day after the index slumped to its lowest in five weeks.
March futures on the S&P TSX index were up 0.3 percent at 7:15 a.m. ET.
No major economic events are scheduled.
Canada’s main stock index dropped to its lowest in five weeks on Tuesday, dragged down by worries that the U.S. Federal Reserve could raise interest rates sooner than previously expected.
Dow Jones Industrial Average e-mini futures were up 0.33 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.43 percent and Nasdaq 100 e-mini futures were up 0.33 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Canadian telecom and media conglomerate Quebecor Inc reported a 3.5 percent rise in quarterly adjusted income, helped by demand in its telecommunications and media businesses.
UBS AG has poached a U.S. team of some 15 oil and gas investment bankers from Bank of Montreal (BMO), significantly weakening the energy dealmaking capacity at Canada’s fourth-largest bank, people familiar with the matter said.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,158.9; -0.1 pct
US crude : $48.49; +0.41 pct
Brent crude : $56.47; +0.14 pct
LME 3-month copper : $5,778.5; +0.23 pct
ANALYST RESEARCH HIGHLIGHTS
Alimentation Couche-Tard : RBC raises target to C$52 from C$47
Entrec Corp : Dundee cuts to “sell” from “buy”
Reservoir Minerals Inc : CIBC cuts to “sector performer” from “sector outperformer”
U.S. ECONOMIC DATA DUE ON WEDNESDAY
1400 Federal Budget for Feb: Expected -$187.0 bln; Prior -$18.0 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$1.27 Reporting by Nandi Kaul in Bengaluru
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