February 19, 2019 / 12:36 PM / 5 months ago

CANADA STOCKS-TSX futures down ahead of U.S.-China trade talks

Feb 19 (Reuters) - Futures pointed to a lower opening for Canada’s main stock index on Tuesday as investors turned their focus to a fresh round of trade talks between the United States and China.

The talks between the two economies to resolve their trade war will take place in Washington on Tuesday, with follow-up sessions at a higher level later in the week, the White House said.

March futures on the S&P/TSX index were down 0.21 percent at 7:00 a.m. ET.

The Toronto Stock Exchange closed 142.26 points, or 0.91 percent, higher at 15,838.24 on Friday.

Dow Jones Industrial Average e-mini futures were down 0.24 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.30 percent and Nasdaq 100 e-mini futures were down 0.27 percent.

TOP STORIES

A top aide to Canadian Prime Minister Justin Trudeau resigned unexpectedly on Monday amid allegations Trudeau’s office had pressured the former justice minister to help construction firm SNC-Lavalin Group Inc avoid criminal prosecution.

Canadian Foreign Minister Chrystia Freeland said on Saturday she had made clear in a meeting with U.S. House of Representatives Speaker Nancy Pelosi at the Munich Security Conference the importance of the U.S. lifting tariffs on steel and aluminum imports from Canada.

A Canadian National Railway Co train derailed early on Saturday in Western Canada, leaking an undetermined volume of crude oil, the company said.

ANALYST RESEARCH HIGHLIGHTS

Cineplex Inc: CIBC cuts price target to C$30 from C$33

Fairfax Financial Holdings Ltd: CIBC raises target price to C$725 from C$700

Toromont Industries Ltd: CIBC raises price target to C$70 from C$64

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,328.5; +0.71 pct

US crude: $56.02; +0.77 pct

Brent crude: $66.30; -0.30pct

U.S. ECONOMIC DATA DUE ON TUESDAY

1000 NAHB Housing Market Index for Feb: Expected 59; Prior 58

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$1.33 Reporting by Debanjan Bose in Bengaluru; Editing by Maju Samuel

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