Canada Stocks: TSX futures up as gold prices rise

Roots

05/06/2019 12:50

June 5 (Reuters) - Futures for Canada's main stock index
rose on Wednesday, as rising hopes of rate cuts from the U.S.
Federal Reserve to counter slowing economic growth could
potentially weaken the dollar and boost gold prices.
    Spot gold  XAU=  was up 0.7%, having clocked its highest
since Feb. 21 at $1,338.34 earlier in the session.  GOL/     
    June futures on the S&P/TSX index  SXFc1  were up 0.37% at
7:00 a.m. ET.
    Canada's reserve assets data for May is due at around 8:15
a.m. ET, while labor productivity figures for the first quarter
are due at 8:30 a.m. ET.
    The Toronto Stock Exchange's S&P/TSX index  .GSPTSE  closed
up 150.35 points, or 0.94%, at 16,166.24 on Tuesday.
 urn:newsml:reuters.com:*:nL8N23B64R
    Dow Jones Industrial Average e-mini futures  1YMc1  were up
0.65% at 7:00 a.m. ET, while S&P 500 e-mini futures  ESc1  were
up 0.66% and Nasdaq 100 e-mini futures  NQc1  were up 0.81%.
 .N 
    
     
    TOP STORIES  TOP/CAN 
    Japan's Mitsubishi Heavy Industries Ltd  7011.T , which has
been developing its own regional jet programme, said on
Wednesday it was in talks to buy Bombardier Inc's  BBDb.TO  CRJ
aircraft business.  urn:newsml:reuters.com:*:nL4N23C218
    Panamanian President-elect Laurentino Cortizo said on
Tuesday his government would review a mining contract awarded to
a subsidiary of Canada's First Quantum Minerals  FM.TO , casting
a cloud of uncertainty around a key project for the firm.
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    ANALYST RESEARCH HIGHLIGHTS  RCH/CA 
    Roots Corp  ROOT.TO : National Bank of Canada cuts target
price to C$5.50 from C$6.50.
    Prometic Life Sciences Inc  PLI.TO : Royal Bank of Canada
cuts price target to C$0.03 from C$0.70.
    Canadian National Railway Co  CNR.TO : Royal Bank of Canada
cuts price target to C$127 from C$128.
    BRP Inc  DOO.TO : Citigroup raises price target to C$49 from
C$45.
    Cronos Group Inc  CRON.TO : BofA Merrill Lynch raises rating
to buy from underperform; price target upped to C$27 from C$17.
    
    
    COMMODITIES AT 7:00 a.m. ET  COM/WRAP 
    Gold futures  GCc2 : $1339.7; +1.06%  GOL/ 
    US crude  CLc1 : $53.18; -0.56%  O/R 
    Brent crude  LCOc1 : $61.99; -0.11%  O/R 

    
    U.S. ECONOMIC DATA DUE ON WEDNESDAY
    0815 ADP national employment for May: Expected 180000; Prior
275000
    0945 Markit composite final PMI for May : Prior 50.9
    0945 Markit services PMI final for May : Prior 50.9
    1000 ISM N-Manufacturing PMI for May: Expected 55.5; Prior
55.5
    1000 ISM N-Manufacturing Business Activity for May: Expected
58.5; Prior 59.5
    1000 ISM N-Manufacturing Employment Index for May: Prior
53.7
    1000 ISM N-Manufacturing New Orders Index for May: Prior
58.1
    1000 ISM N-Manufacturing Price Paid Index for May: Prior
55.7

    
    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$1.34)

 (Reporting by Karthick Arvinth in Bengaluru; Editing by Anil
D'Silva)
 ((karthick.arvinth@thomsonreuters.com))