April 27 (Reuters) - Futures for Canada’s main stock index edged up on Monday as global economic stimulus measures and news of easing lockdowns from some countries pulled investors back to riskier assets.
The Bank of Japan expanded monetary stimulus and pledged to buy an unlimited amount of bonds to keep borrowing costs low, as the government tries to spend its way out of the growing economic pain from the coronavirus pandemic.
The U.S. Federal Reserve and the European Central Bank meet later in the week, with the latter likely to do more bond buying.
June futures on the S&P/TSX index were up 0.53% at 7:00 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index rose 1.19% to 14,420.36 on Friday.
Dow Jones Industrial Average e-mini futures were up 0.82% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.75% and Nasdaq 100 e-mini futures were up 1%.
Canada’s top medical official said on Sunday she was encouraged the coronavirus death toll was slowing while Prime Minister Justin Trudeau said isolation measures to fight the outbreak should remain for the time being.
Plans underway to restart the economies of Canadian provinces do not depend on presuming people who become infected with coronavirus develop immunity to it, Canadian Prime Minister Justin Trudeau said on Saturday.
ANALYST RESEARCH HIGHLIGHTS
Altagas Ltd: Canaccord Genuity raises target price to C$18 from C$16
Cargojet Inc: CIBC raises target price to C$140 from C$130
Gibson Energy Inc: Canaccord Genuity raises target price to C$23 from C$22
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1723; -0.07%
US crude: $14.15; -16.47%
Brent crude: $20.67; -3.59%
U.S. ECONOMIC DATA DUE ON MONDAY
1030 (approx.) Dallas Fed Manufacturing Business Index for Apr: Prior -70.00
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$1= C$1.41 Reporting by Nachiket Tekawade in Bengaluru; Editing by Shinjini Ganguli
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