Dec 7 (Reuters) - Stock futures pointed to a slightly lower opening for Canada’s main index on Wednesday as investors awaited the Bank of Canada’s decision on interest rates.
The central bank is widely expected to hold interest rates at 0.50 percent, but investors will look to the policy statement to gauge the impact of U.S. President-elect Donald Trump’s proposed policies on the Canadian economy.
December futures on the S&P TSX index were down 0.04 percent at 7:35 a.m. ET.
Canada’s benchmark stock index climbed to its highest close in 18 months on Tuesday as Bank of Montreal led financial shares higher on a strong earnings report, adding momentum to a month-long sector rally sparked by higher bond yields.
Dow Jones Industrial Average e-mini futures were up 0.06 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.01 percent and Nasdaq 100 e-mini futures were up 0.02 percent.
Canadian dollar store operator Dollarama Inc reported a 10 percent rise in quarterly profit as customers spent more in its stores.
Latin America will play an increasingly important role in Barrick Gold’s growth strategy, the world’s biggest gold miner said on Tuesday as it named a new director with decades of mining experience in that region.
An environmental group said on Tuesday it filed a lawsuit against De Beers Canada, accusing the diamond producer of failing to report toxic levels of mercury and methylmercury at its Victor diamond mine in northern Ontario.
ANALYST RESEARCH HIGHLIGHTS
Bank of Montreal : Barclays raises target price to C$82 from C$77
Hudson’s Bay Co : National Bank Financial cuts target price to C$17 from C$18
Transcontinental : Canaccord Genuity raises target price to C$20 from C$17
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,174.2; +0.46 pct
US crude : $50.84; -0.18 pct
Brent crude : $53.82; -0.19 pct
LME 3-month copper : $5,907.00; +0.39 pct
U.S. ECONOMIC DATA DUE ON WEDNESDAY
1000 JOLTS job openings for Oct: Expected 5.500 mln; Prior 5.486 mln
1500 Consumer credit for Oct Expected 19.00 bln; Prior 19.29 bln
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Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.33) (Reporting by Nivedita Balu in Bengaluru; Editing by Anil D’Silva)
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