March 10 (Reuters) - Stock futures pointed to a slightly higher opening for Canada’s main stock index on Thursday ahead of the European Central Bank’s decision on monetary policy.
March futures on the S&P TSX index were up 0.14 percent at 7:30 a.m. ET.
The euro zone’s central bank is widely expected to cut its deposit rate deeper into negative territory and adjust its 1.5 trillion euro asset-buying scheme.
New Housing Price Index and capacity utilization data is due at 8:30 a.m. ET.
Canada’s benchmark stock index rose on Wednesday, led by energy stocks as crude oil prices rallied and as financial stocks gained after the Bank of Canada chose to hold interest rates steady.
Dow Jones Industrial Average e-mini futures were up 0.34 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were up 0.43 percent and Nasdaq 100 e-mini futures were up 0.44 percent.
A long-awaited rebound in Canadian manufacturing is finally taking hold as currency hedges and contracts priced when the country’s dollar was stronger expire, giving exporters a competitive edge, executives in the sector say.
COMMODITIES AT 7:30 a.m. ET
Gold futures : $1,249.80; -0.54 pct
US crude : $38.26; -0.16 pct
Brent crude : $40.77; -0.73 pct
LME 3-month copper : $4,919.00; -0.32 pct
Imperial Oil Ltd : RBC raises target price to C$46 from C$44; rating “sector perform”
Manitoba Telecom Services Inc : CIBC cuts rating to “sector performer”
Transcontinental Inc : CIBC raises target price to C$22 from C$21
0830 Initial jobless claims: Expected 275,000; Prior 278,000
0830 Jobless claims 4-week average: Prior 270,250
0830 Continued jobless claims: Expected 2.255 mln; Prior 2.257 mln
1400 Federal budget for Feb: Expected -$200.0 bln; Prior $55.2 bln
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.33) (Reporting by Riniki Sanyal in Bengaluru; Editing by Anil D‘Silva)