April 6, 2020 / 11:30 AM / 4 months ago

CANADA STOCKS-TSX futures rise on coronavirus slowdown hopes

April 6 (Reuters) - Canada’s main stock index futures rose on Monday as a global slowdown in coronavirus-related deaths and new cases boosted investor sentiment.

June futures on the S&P/TSX index were up 3.26 at 7:00 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX closed down 1.22% at 12,938.30 on Friday.

Dow Jones Industrial Average e-mini futures were up 3.61% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 3.64% and Nasdaq 100 e-mini futures were up 3.72%.

TOP STORIES

Australia’s Fortescue Metals Group said it had signed a deal with the local unit of Canadian utilities company ATCO Ltd to build and operate hydrogen refuelling facilities for vehicles in Western Australia.

Canada’s Big Six banks all said they will reduce interest rates on credit cards to provide relief to customers affected by the COVID-19 pandemic.

ANALYST RESEARCH HIGHLIGHTS

CI Financial Corp: Canaccord Genuity cuts target price to C$16 from C$29

Docebo Inc: CIBC cuts target price to C$18 from C$22

Enghouse Systems Ltd: CIBC cuts target price to C$50 from C$59

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,654.7; +1.04%

US crude: $27.19; -4.06%

Brent crude: $32.88; -3.61%

U.S. ECONOMIC DATA DUE ON MONDAY

1000 (approx.) Employment Trends for Mar: Prior 109.00

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$1.41 Reporting by Priyanka Das in Bengaluru; Editing by Shounak Dasgupta

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