Dec 16 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Friday as gold prices steadied, but held near a 10-1/2-month low, post the U.S. Federal Reserve’s rate hike.
March futures on the S&P TSX index were up 0.2 percent at 7:15 a.m. ET.
“The rate hike this week from the Fed and the hawkish outlook for next year leave a fairly negative picture for gold,” ING commodity strategist Warren Patterson said.
October data for domestic and foreign securities is due at 8:30 a.m. ET
Canada’s main stock index rose on Thursday, helped by broad gains for financial stocks a day after the Federal Reserve hiked interest rates and struck a hawkish note on further increases, a move which weighed on Canadian gold miners.
Dow Jones Industrial Average e-mini futures were up 0.20 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.18 percent and Nasdaq 100 e-mini futures were up 0.15 percent.
Chemtrade Logistics Income Fund said it would buy chemicals and handling company Canexus Corp for C$1.65 in cash per share, as it looks to expand its existing platform and markets.
ANALYST RESEARCH HIGHLIGHTS
CGI Group Inc : Goldman Sachs cuts to “sell” from “neutral”
Centerra Gold : National Bank Financial starts with “sector perform”
Imperial Oil Ltd : Goldman Sachs raises target price to C$50 from C$47
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,134.3; +0.58 pct
US crude : $51.29; +0.77 pct
Brent crude : $54.62; +1.11 pct
LME 3-month copper : $5,667; -1.13 pct
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Building permits: number for Nov: Expected 1.240 mln; Prior 1.260 mln
0830 Build permits: change mm for Nov: Prior 2.9 pct
0830 Housing starts number mm for Nov: Expected 1.230 mln; Prior 1.323 mln
0830 House starts mm: change for Nov: Prior 25.5 pct
1030 ECRI Weekly Index: Prior 143.2
1030 ECRI weekly annualized: Prior 9.7 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$1.34) (Reporting by Nandi Kaul in Bengaluru; Editing by Shounak Dasgupta)
Our Standards: The Thomson Reuters Trust Principles.