Futures lower ahead of Bank of Canada's rate decision
(Reuters) - Canada's main stock index was set for a slightly lower start on Wednesday as investors awaited the Bank of Canada's interest rate decision.
The central bank is widely expected to hold rates at 0.50 percent, where they have stayed since the bank cut twice in 2015.
June futures on the S&P TSX index were down 0.12 percent at 7:15 a.m. ET.
The interest rate decision, which is due at 10:00 a.m. ET, will be followed by Governor Stephen Poloz's press conference.
Later in the day, Poloz and Senior Deputy Governor Carolyn Wilkins will testify before a House of Commons committee on finance.
The Toronto Stock Exchange's S&P/TSX composite index ended barely lower on Tuesday as financial stocks weighed, while a flight to safety helped gold miners and shares of Bombardier Inc (BBDb.TO) jumped on reports it was discussing a merger of rail operations with Siemens.
Dow Jones Industrial Average e-mini futures were down 0.02 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.07 percent and Nasdaq 100 e-mini futures were down 0.05 percent. [.N]
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TOP STORIES [TOP/CAN]
Shaw Communications (SJRb.TO) reported a 13.3 percent rise in quarterly revenue, driven by the addition of more wireless customers.
Private equity firm Waterous Energy Fund is seeking investment opportunities in the Canadian oil and gas sector as valuations turn attractive after a prolonged slump in the oil price, making a contrarian bet as global players pull back, its top executive said.
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Capstone Mining Corp (Toronto:CS.TO - News): TD Securities raises rating to "buy" from "hold"
TFI International Inc (Toronto:TFII.TO - News): National Bank Financial cuts target price to C$37 from C$40
COMMODITIES AT 7:15 a.m. ET [COM/WRAP]
Gold futures : $1272.6; +0.11 percent [GOL/]
US crude : $53.63; +0.43 percent [O/R]
Brent crude : $56.51; +0.5 percent [O/R]
LME 3-month copper : $5701; -1.14 percent [MET/L]
U.S. ECONOMIC DATA DUE ON WEDNESDAY
08:30 Import prices mm for Mar: Expected -0.2 pct; Prior 0.2 pct
08:30 Export prices mm for Mar: Expected 0.1 pct; Prior 0.3 pct
11:00 TR IPSOS PCSI for Apr: Prior 58.84
14:00 Federal budget for Mar: Expected -$167.0 bln; Prior -$192.0 bln
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report [.TO]
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
($1= C$1.33)
(Reporting by Nikhil Kumar in Bengaluru; Editing by Sriraj Kalluvila)
