Canada Stocks: Futures rise on higher oil prices; BoC rate decision awaited

Winpak

04/03/2020 12:26

March 4 (Reuters) - Canada's main stock index futures rose
on Wednesday as oil prices gained on hopes that major producers
were close to an agreement for deeper output cuts to stem the
decline in demand due to the coronavirus outbreak.
    Investors will also await the Canadian central bank's
decision on interest rates, which is scheduled at 10:00 a.m. ET.
    
    March futures on the S&P/TSX index  SXFc1  were up 1.6% at
7:00 a.m. ET.
    The Toronto Stock Exchange's S&P/TSX index ended 1.78% lower
at 16,423.62 on Tuesday.  urn:newsml:reuters.com:*:nL8N2AW899
    Dow Jones Industrial Average e-mini futures  1YMc1  were up
2.62% at 7:00 a.m. ET, while S&P 500 e-mini futures  ESc1  were
up 2.38% and Nasdaq 100 e-mini futures  NQc1  were up 2.42%.
 .N 
    
     
    TOP STORIES  TOP/CAN 
    Canadian National Railway Co  CNR.TO  lost capacity
equivalent to 10,000 carloads, or 1 million tonnes of grain
exports, in February due to rail blockades by protesters opposed
to a pipeline project, Chief Executive Jean-Jacques Ruest said
on Tuesday.  urn:newsml:reuters.com:*:nL1N2AW283
    
    ANALYST RESEARCH HIGHLIGHTS  RCH/CA 
    Cenovus Energy Inc  CVE.TO : JPMorgan cuts rating to neutral
from overweight
    Pinnacle Renewable Energy Inc  PL.TO : CIBC cuts target
price to C$10 from C$11
    Winpak Ltd  WPK.TO : CIBC cuts target price to C$49 from
C$55
    
    COMMODITIES AT 7:00 a.m. ET 
    Gold futures  GCc2 : $1646.3; +0.12 percent  GOL/ 
    US crude  CLc1 : $47.97; +1.67 percent  O/R 
    Brent crude  LCOc1 : $52.67; +1.56 percent  O/R 
    
    
    U.S. ECONOMIC DATA DUE ON WEDNESDAY
    0815 (approx.) ADP national employment for Feb: Expected
170,000; Prior 291,000
    0945 Markit Composite Final PMI for Feb: Prior 49.6
    0945 Markit Services PMI Final for Feb: Prior 49.4
    1000 ISM N-Manufacturing PMI for Feb: Expected 54.9; Prior
55.5
    1000 ISM N-Manufacturing Business Activity for Feb: Expected
58.8; Prior 60.9
    1000 ISM N-Manufacturing Employment Index for Feb: Prior
53.1
    1000 ISM N-Manufacturing New Orders Index for Feb: Prior
56.2
    1000 ISM N-Manufacturing Price Paid Index for Feb: Prior
55.5

    
    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$1.33)
    

 (Reporting by Siddharth Athreya V in Bengaluru)