July 12 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Wednesday as investors await an interest rate decision by the Bank of Canada.
The median consensus, according to analysts polled by Reuters on Tuesday, showed the central bank will increase rates by 25 basis points to 0.75 percent, the first hike in nearly seven years.
Interest rate data is due at 10:00 a.m. ET.
September futures on the S&P TSX index were up 0.2 percent at 7:15 a.m. ET.
Canada’s main stock index rose on Tuesday as higher commodity prices boosted the shares of resource companies, while investors awaited the Bank of Canada’s interest rate decision on Wednesday.
Dow Jones Industrial Average e-mini futures were up 0.15 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.15 percent and Nasdaq 100 e-mini futures were up 0.25 percent.
Canadian lender Home Capital Group Inc appointed Yousry Bissada as its chief executive, bringing to an end a search it started in March after it terminated the employment of former CEO Martin Reid.
The Bank of Canada is widely expected to raise interest rates on Wednesday for the first time since 2010, following the Federal Reserve in a bid to inch rates back towards normal after the global financial crisis a decade ago.
ANALYST RESEARCH HIGHLIGHTS
Aveda Transportation: Canaccord Genuity starts coverage with “speculative buy” rating
Sun Life Financial Inc: Barclays raises target price to C$53 from C$52
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,218.3; +0.39 pct
US crude: $45.76; +1.60 pct
Brent crude: $48.18; +1.39 pct
LME 3-month copper: $5,919; +0.75 pct
U.S. ECONOMIC DATA DUE ON WEDNESDAY
1100 TR IPSOS PCSI for Jul: Prior 62.77
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$1.29)
Reporting by Riniki Sanyal in Bengaluru; Editing by Sriraj Kalluvila
Our Standards: The Thomson Reuters Trust Principles.