Canada Stocks: Toronto futures up as global mood improves on upbeat earnings

Methanex

26/10/2021 12:12

Oct 26 (Reuters) - Futures for Canada's main stock index was
poised to open higher on Tuesday, mirroring mood across global
stock markets, although gains were limited by a retreat in
commodity prices.
    December futures on the S&P/TSX index  SXFc1  were up 0.2%
at 7:00 a.m. ET.
    Global equities rose on Tuesday, buoyed by upbeat corporate
earnings and as recurring worries around China's property sector
eased.  MKTS/GLOB 
    Oil prices edged lower, but remained near multi-year highs,
supported by a global supply shortage, while gold prices fell
after a five-session rally, as the dollar firmed.  O/R   GOL/ 
    All eyes are on the Bank of Canada's meeting later this
week. Economists polled by Reuters see the Bank of Canada
raising rates as early as the third quarter of next year, at
least three months earlier than previously expected.
 urn:newsml:reuters.com:*:nL4N2RL37F
    Meanwhile, investors are focused on corporate earnings as
major companies including Lundin Mining Corp  LUN.TO , Methanex
Corp  MX.TO  and Mullen Group  MTL.TO  are scheduled report
later this week.
    The Toronto Stock Exchange's S&P/TSX composite index
 .GSPTSE  ended 0.3% higher at 21,284.84 on Monday, a record
closing high.  .TO 
    Dow e-minis  1YMcv1  were up 122 points, or 0.34% at 7:00
a.m. ET, while S&P 500 e-minis  EScv1  were up 17.5 points, or
0.38% and Nasdaq 100 e-minis  NQcv1  were up 83.5 points, or
0.54%.  .N 
     
    TOP STORY  TOP/CAN 
    Canadian Prime Minister Justin Trudeau, who fell short of a
majority in last month's election, will introduce a Cabinet on
Tuesday that analysts say should hone in on the fight against
climate change.  urn:newsml:reuters.com:*:nL8N2RL4IF
   
    ANALYST RESEARCH HIGHLIGHTS  RCH/CA 
    CI Financial Corp  CIX.TO : RBC raises target price to C$32
from C$30
    Home Capital Group Inc  HCG.TO : RBC raises target price to
C$53 from C$52
    Onex Corp  ONEX.TO : CIBC cuts to "neutral" from
"outperform"
    
    COMMODITIES AT 7:00 a.m. ET 
    Gold futures  GCc2 : $1803.1; -0.17%  GOL/ 
    US crude  CLc1 : $83.73; -0.04%  O/R 
    Brent crude  LCOc1 : $85.92; -0.09%  O/R 
    
    U.S. ECONOMIC DATA DUE ON TUESDAY
    0800 Build permits R number for Sep : Prior 1.589 mln
    0800 Build permits R change mm for Sep : Prior -7.7%
    0900 Monthly home price mm for Aug : Prior 1.4%
    0900 Monthly home price yy for Aug : Prior 19.2%
    0900 Monthly Home Price Index for Aug : Prior 348.4
    1000 Consumer Confidence for Oct : Expected 108.3; Prior
109.3
    1000 New home sales-units for Sep : Expected 0.760 mln;
Prior 0.740 mln
    1000 New home sales change mm for Sep : Prior 1.5%
    1000 Rich Fed Composite  Index for Oct : Prior -3
    1000 Rich Fed, Services Index for Oct : Prior -3
    1000 Rich Fed Manufacturing Shipments for Oct : Prior -1
    1030 Texas Service Sector Outlook for Oct : Prior 8.3
    1030 Dallas Fed Services Revenues for Oct : Prior 14.5

    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$1.24)

 (Reporting by Amal S in Bengaluru; Editing by Maju Samuel)
 ((Amal.S@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6749 3677;))