Aug 14 (Reuters) - Canada’s main stock index was set for a higher start on Monday as investors returned to riskier assets following a slight easing of tensions between the United States and North Korea.
Tensions on the Korean Peninsula eased slightly after South Korea’s President Moon Jae-in said resolving Pyongyang’s nuclear ambitions must be done peacefully and key U.S. officials played down the risk of an imminent war with North Korea.
September futures on the S&P TSX index were up 0.19 percent at 7:15 a.m. ET.
Canada’s main stock index posted its lowest close in five weeks on Friday, weighed by a move lower in financials and a fall in shares of auto parts maker Magna International Inc despite reporting better-than-forecast quarterly profit.
Dow Jones Industrial Average e-mini futures were up 0.45 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.56 percent and Nasdaq 100 e-mini futures were up 0.57 percent.
An effective dispute settlement mechanism is essential in any trade agreement, Canada’s foreign affairs minister Chrystia Freeland said on Friday, less than a week before the first round of negotiations on the North American trade pact.
ANALYST RESEARCH HIGHLIGHTS
Hydro One Ltd: Credit Suisse reinstates coverage with a “neutral” rating; C$26 target price
Metro Inc: Barclays cuts price target to C$44 from C$45
Trican Well Service Ltd: JP Morgan raises price target to C$6 from C$5
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1279.8; -0.61 percent
US crude: $48.5; -0.68 percent
Brent crude: $51.66; -0.84 percent
LME 3-month copper: $6383.5; -0.42 percent
U.S. ECONOMIC DATA DUE ON MONDAY
No economic indicators are scheduled for release.
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=1.27) (Reporting by Nishit Kunal in Bengaluru; Editing by Arun Koyyur)
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