August 27, 2018 / 11:28 AM / a month ago

CANADA STOCKS-Futures trade higher as trade tensions ease

Aug 27 (Reuters) - Futures for Canada’s main stock index edged higher on Monday after reassuring comments from U.S. Fed chief Jerome Powell and signs that negotiators are close to reaching a common position on the North American Free Trade Agreement.

U.S. and Mexican trade negotiators are close to squaring away bilateral differences on the North American Free Trade Agreement and will resume talks on Monday morning, Mexican Economy Minister Ildefonso Guajardo said on Sunday.

At a symposium at Jackson Hole, Wyoming, Jerome Powell on Friday emphasised the central bank’s push to raise interest rates despite President Donald Trump’s criticism of higher borrowing costs.

September futures on the S&P/TSX index were up 0.11 percent at 7:15 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX index rose on Friday.

Dow Jones Industrial Average e-mini futures were up 0.3 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.25 percent and Nasdaq 100 e-mini futures were up 0.36 percent.

TOP STORIES

The head of Germany’s anti-trust office said he would have to review any plans to merge department store groups Kaufhof, owned by Canada’s Hudson’s Bay Company, and competitor Karstadt, owned by Austrian investor Rene Benko.

Twelve unarmed security contract workers at Tahoe Resources Inc’s Guatemalan unit were abducted late on Friday and held for hours before being released, the gold- and silver-mining company said.

ANALYST RESEARCH HIGHLIGHTS

Hardwoods Distribution Inc: Canaccord Genuity cuts price target to C$24 from C$26

Alimentation Couche-Tard Inc: Barclays raises price target to C$73 from C$72

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1211.1; -0.18 percent

US crude: $68.47; -0.36 percent

Brent crude: $75.58; -0.32 percent

LME 3-month copper: $6069; +1.38 percent

U.S. ECONOMIC DATA DUE ON MONDAY

0830 National Activity Index for July: Prior 0.43

1030 Dallas Fed Manufacturing Business Index for Aug: Prior 17

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$1.30) (Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by Maju Samuel)

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