Canada Stocks: TSX futures rise as trade war fears abate
06/03/2018 12:34
March 6 (Reuters) - Canada's main stock index futures rose
on Tuesday, in line with a recovery in global markets, as
President Donald Trump's proposed tariff plans faced increased
resistance from political allies, easing some fears of a global
trade war.
Gold stocks will be in focus as the metal's safe-haven
appeal boosted demand amid uncertainties in the wake of Trump's
tariffs.
March futures on the S&P TSX index SXFc1 were up 0.43
percent at 7:15 a.m. ET.
Canada's Ivey Purchasing Managers Index is expected to be
released 10:00 a.m. ET. The seasonally adjusted index came in at
55.2 in January. ECONCA
Canada's main stock index closed higher in its first
positive session in five, as investors interpreted U.S.
President Donald Trump's threats to impose tariffs on steel and
aluminum imports as a negotiating tactic to get a better deal on
NAFTA talks. urn:newsml:reuters.com:*:nL2N1QN1MT
Dow Jones Industrial Average e-mini futures 1YMc1 were up
0.67 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
ESc1 were up 0.49 percent and Nasdaq 100 e-mini futures NQc1
were up 0.66 percent. .N
(Morning News Call newsletter http://share.thomsonreuters.com/assets/newsletters/Morning_News_Call/MNC_US.pdf
; The Day Ahead newsletter http://share.thomsonreuters.com/assets/newsletters/The_Day_Ahead/TDA_NAM.pdf)
TOP STORIES TOP/CAN
Toronto home sales slumped in February from a year ago as
the market continued to be dampened by tighter mortgage rules
and higher borrowing costs, though demand for condominiums
helped prices stabilize, data showed on Tuesday. urn:newsml:reuters.com:*:nL2N1QN1IU
Canadian Prime Minister Justin Trudeau called U.S. President
Donald Trump on Monday about proposed steel and aluminum tariffs
and "forcefully defended" Canadian workers and the industry, a
government official said. urn:newsml:reuters.com:*:nL2N1QO01F
Bombardier Inc BBDb.TO will sell equity to strengthen its
balance sheet as part of a five-year turnaround plan, the
Canadian plane-and-train maker said on Monday. urn:newsml:reuters.com:*:nL4N1QN5YP
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Canadian National Railway Co CNI.TO CIBC cuts target price
to C$108 from C$111
EcoSynthetix Inc ECO.TO Canaccord Genuity cuts target
price to C$2.50 from C$3
Gibson Energy Inc GEI.TO BMO cuts target price to C$19
from C$20
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1,325.8; +0.58 percent GOL/
U.S. crude CLc1 : $62.97; +0.62 percent O/R
Brent crude LCOc1 : $65.86; +0.49 percent O/R
LME 3-month copper CMCU3 : $7,004.5; +1.34 percent MET/L
U.S. ECONOMIC DATA DUE ON TUESDAY
1000 Durables ex-defense R mm for Jan: Prior -2.7 pct
1000 Durable goods R mm for Jan: Prior -3.7 pct
1000 Factory orders mm for Jan: Expected -1.3 pct; Prior 1.7
pct
1000 Durables ex-transport R mm for Jan: Prior -0.3 pct
1000 Non defense cap ex-air R mm for Jan: Prior -0.2 pct
1000 Factory ex-transport mm for Jan: Prior 0.7 pct
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1
EPOLL/CA
Canadian markets directory CANADA
($1= C$1.29)
(Reporting by Nandi Kaul in Bengaluru
Editing by Saumyadeb Chakrabarty)
((nandi.kaul@thomsonreuters.com))