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CANADA STOCKS--TSX futures dip as world equity rally fades
September 13, 2017 / 11:28 AM / 2 months ago

CANADA STOCKS--TSX futures dip as world equity rally fades

Sept 13 (Reuters) - Canada’s main stock index was set for a lower opening after posting its biggest advance in three months in the previous session as a global equity rally showed signs of fading, with disappointment over the timing of Apple’s iPhone release.

September futures on the S&P TSX index were down 0.19 percent at 7:15 a.m. ET.

Canada’s main stock index posted its biggest advance in three months on Tuesday, led by financial sector gains, while higher commodity prices helped boost energy and gold mining shares.

Dow Jones Industrial Average e-mini futures were down 0.1 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.15 percent and Nasdaq 100 e-mini futures were down 0.22 percent.

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TOP STORIES

Lending to Canadian small businesses climbed to the highest level in a year-and-a-half in July, data showed, pointing to a pickup in corporate spending that could help underpin recent economic strength.

Greek police fired tear gas at dozens of Eldorado Gold workers rallying outside the energy ministry in Athens to protest against potential job losses after the Canadian company threatened to suspend investment at its Greek mines.

Canadian lender Desjardins is considering backing out of its C$145 million commitment to Kinder Morgan’s Trans Mountain pipeline expansion, two people present at a meeting with the financial institution told Reuters.

ANALYST RESEARCH HIGHLIGHTS

Canadian National Railway Co: National Bank Of Canada cuts target price to C$105 from C$108

Cascades Inc: Desjardins raises price target to C$18 from C$16

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1338; +0.39 percent

US crude: $48.68; +0.93 percent

Brent crude: $54.67; +0.74 percent

LME 3-month copper: $6564.5; -1.55 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 PPI final demand yy for Aug: Expected 2.5 pct; Prior 1.9 pct

0830 PPI final demand mm for Aug: Expected 0.3 pct; Prior -0.1 pct

0830 PPI exfood/energy yy for Aug: Expected 2.1 pct; Prior 1.8 pct

0830 PPI exfood/energy mm for Aug: Expected 0.2 pct; Prior -0.1 pct

0830 PPI exfood/energy/transport yy for Aug: Prior 1.9 pct

0830 PPI exfood/energy/transport mm for Aug: Prior 0 pct

1100 TR IPSOS PCSI for Sep: Prior 59.54

1400 Federal budget for Aug: Expected -$119.5 bln; Prior -$43 bln

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$1.21) (Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by Shounak Dasgupta)

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