March 30 (Reuters) - Canada’s main stock index futures rose on Monday after the Canadian government said on Friday it would cover 75% of wages for small businesses and the central bank cut its key interest rate to stem the economic impact of the coronavirus pandemic.
June futures on the S&P/TSX index were up 0.66% at 7:00 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index closed down 5.1% at 12,687.74 on Friday.
Dow Jones Industrial Average e-mini futures were down 0.2% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.16% and Nasdaq 100 e-mini futures were up 0.2%.
Canada’s top lenders lowered their prime rates by 50 basis points on Friday, hours after the central bank unexpectedly cut its key interest rate to help the county weather the economic fallout of the coronavirus pandemic.
Air Canada’s proposed C$720 million acquisition of tour operator Transat A.T. Inc will result in a substantial lessening or prevention of competition, the Canadian Competition Bureau said on Friday.
ANALYST RESEARCH HIGHLIGHTS
Acadian Timber Corp: Credit Suisse cuts to neutral from outperform
Corus Entertainment Inc: RBC cuts price target to C$4 from C$7
Extendicare Inc: CIBC cuts target price to C$8.5 from C$9.5
Suncor Energy Inc: CIBC cuts target price to C$40 from C$45
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,642.4; +0.07%
US crude: $20.29; -5.67%
Brent crude: $22.73; -8.82%
U.S. ECONOMIC DATA DUE ON MONDAY
1000 Pending Homes Index for Feb: Prior 108.8
1000 Pending sales change mm for Feb: Expected -1.0%; Prior 5.2%
1030 (approx.) Dallas Fed Manufacturing Business Index for Mar: Prior 1.20
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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 Shailesh Kuber
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