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CANADA STOCKS-Futures flat ahead of Bank of Canada's rate decision
May 24, 2017 / 11:37 AM / 3 months ago

CANADA STOCKS-Futures flat ahead of Bank of Canada's rate decision

May 24 (Reuters) - Stock futures for Canada's main stock index were flat on Wednesday as investors awaited the Bank of Canada's decision on interest rate.

The central bank is widely expected to hold the rate steady at 0.50 percent when it announces its decision at 10:00 a.m. ET.

June futures on the S&P TSX index were down 0.04 percent at 7:15 a.m. ET.

Canada's main stock index rose on Tuesday, bolstered by bank stocks ahead of the release of earnings reports and a surge in BlackBerry Ltd's shares, as trading resumed a day after the Victoria Day holiday.

Dow Jones Industrial Average e-mini futures were unchanged at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.03 percent and Nasdaq 100 e-mini futures were up 0.09 percent.

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TOP STORIES

Bank of Montreal, Canada's fourth-biggest bank, reported an 11 percent increase in second-quarter earnings, benefiting from a strong performance in its wealth management and capital markets businesses.

Champion Iron Ltd is thinking small with its plans to bring Quebec's giant Bloom Lake iron ore mine back to life.

Home Capital, Canada's biggest non-bank lender, said on Tuesday it had drawn down an additional C$250 million from a high interest credit line to repay a debt due on Wednesday.

ANALYST RESEARCH HIGHLIGHTS

Sabina Gold & Silver Corp: BMO raises price target to C$2.40 from C$1.70; rating "outperform"

CAE Inc: RBC raises price target to $22 from $20; rating "sector perform"

Jean Coutu Group PJC Inc: Desjardins upgrades to "hold" from "sell"

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,249.7; -0.49 pct

US crude: $51.51; +0.10 pct

Brent crude: $54.27; +0.22 pct

LME 3-month copper: $5,677; -0.65 pct

U.S. ECONOMIC DATA DUE ON WEDNESDAY

08:30 Building permits R number mm for April: Prior 1.229 mln

08:30 Building permits R change mm for April: Prior -2.5 pct

09:00 Monthly home price mm for March: Prior 0.8 pct

09:00 Monthly home price yy for March: Prior 6.4 pct

09:00 Monthly Home Price Index for March: Prior 244.8

10:00 Existing home sales for April: Expected 5.65 mln; Prior 5.71 mln

10:00 Existing home sales percentage change for April: Expected -1.1 pct; Prior 4.4 pct

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$1.35) (Reporting by Sai Sharanya Khosla in Bengaluru; Editing by Sriraj Kalluvila)

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