December 5, 2018 / 12:42 PM / 14 days ago

CANADA STOCKS-TSX futures higher with interest rate decision looming

Dec 5 (Reuters) - Stock futures for Canada’s main stock index rose on Wednesday, ahead of Bank of Canada’s interest rate decision.

Bank of Canada is scheduled to announce its decision at 10:00 a.m. ET and is expected to keep rates unchanged, according to a Reuters poll of economists.

December futures on the S&P/TSX index were up 0.4 percent at 7:10 a.m. ET.

Toronto Stock Exchange S&P/TSX composite index closed down 211.39 points, or 1.38 percent, at 15,063.59 on Tuesday.

TOP STORIES

Canadian department store chain Hudson’s Bay Co reported a bigger third-quarter loss as depreciation and amortization expenses rose and joint venture losses increased.

Two major pipelines carrying oil from Canada to the United States were hit by weather-related disruptions on Tuesday, the latest hit to Canada’s oil industry just days after the Alberta government announced forced cuts in crude production.

Canadian Natural Resources Ltd forecast 2019 capital budget about C$1 billion lower than last year, blaming a lack of market access for its oil and “dysfunctional” government processes.

ANALYST RESEARCH HIGHLIGHTS

Bank of Montreal - Barclays cuts price target to C$103 from C$105

Dollarama Inc - Desjardins upgrades to “buy” from “hold”

Thomson Reuters Corp - National Bank of Canada raises price target to C$73 from C$69.

COMMODITIES AT 7:10 a.m. ET

Gold futures: $1239.6; -0.3 percent

US crude: $53.06; -0.36 percent

Brent crude: $61.77; -0.5 percent

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 Nachiket Tekawade in Bengaluru; Editing by Sriraj Kalluvila

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