CANADA STOCKS-TSX futures down as Fed caution weighs
March 19 (Reuters) - Futures pointed to a lower opening for Canada’s main stock index on Monday as markets remained nervous ahead of a U.S. central bank meeting later this week.
While it is near certain that the Federal Reserve will raise rates by a quarter basis point on Wednesday, investors are more focused on whether policymakers think economic conditions are strong enough for four hikes this year, one more than the markets expect.
June futures on the S&P TSX index were down 0.12 percent at 8:15 a.m. ET.
Canada’s main stock index ended higher on Friday as strength in the price of U.S. crude oil helped drive up shares in energy companies.
Dow Jones Industrial Average e-mini futures were down 0.4 percent at 8:15 a.m. ET, while S&P 500 e-mini futures were down 0.42 percent and Nasdaq 100 e-mini futures were down 1.08 percent.
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TOP STORIES
Caisse de depot et placement du Quebec, one of Canada’s biggest public pension funds, has relied on private equity firms to invest in leveraged corporate buyouts. Now it is building its own investing team to depend less on buyout firms as middle men.
Cenovus Energy Inc is seeking a partner to fund C$1.3 billion ($993.1 million) in costs to build the supporting infrastructure at its Narrows Lake oil sands project in Alberta, two people familiar with the matter said on Friday.
ANALYST RESEARCH HIGHLIGHTS
Autocanada Inc: RBC raises rating to outperform from sector perform
Enbridge Inc: CIBC cuts price target to C$60 from C$63
TransCanada Corp: CIBC cuts price target to C$76 from C$77‍
COMMODITIES AT 8:15 a.m. ET
Gold futures: $1,308.6; -0.21 pct
U.S. crude: $62.23; -0.18 pct
Brent crude: $66.21; was unchanged 0 pct
LME 3-month copper: $6,819.5; -0.99 pct
U.S. ECONOMIC DATA DUE ON MONDAY
No major economic events are scheduled.
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.31) (Reporting by Nandi Kaul in Bengaluru; Editing by Savio D’Souza)