July 29, 2019 / 11:37 AM / 4 months ago

CANADA STOCKS-TSX futures inch up with all eyes on Fed

July 29 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Monday, with investors counting down to a likely U.S. interest rates cut this week.

At a two-day meeting starting on Tuesday, U.S. central bankers are expected to lower borrowing costs for the first time since the depths of the financial crisis more than a decade ago.

September futures on the S&P/TSX index were up 0.11% at 7:00 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX rose 42.84 points, or 0.26 percent, to 16,531.04 on Friday.

Dow Jones Industrial Average e-mini futures were up 0.01% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.03% and Nasdaq 100 e-mini futures were down 0.05%.

TOP STORIES

London Stock Exchange shares rose more than 14% to a record high on Monday after it said it was in talks to buy financial data firm Refinitiv, in a deal worth $27 billion including debt.

Australia’s competition regulator on Monday opened consultation on a proposed undertaking by Canada’s Nutrien to sell three of its regional stores to address concerns over its takeover bid of rural services firm Ruralco .

WestJet Airlines Ltd, which is being acquired by Onex Corp ONEX.TO, reported a surprise quarterly profit and better-than-expected revenue on Friday while many airlines have warned of financial hits from the grounding of the Boeing Co 737 MAX jets.

ANALYST RESEARCH HIGHLIGHTS

Aecon Group Inc: Canaccord Genuity raises price target to C$27 from C$26

Thomson Reuters Corp: National Bank of Canada cuts price target to C$90 from C$95

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1419.2; -0.01 percent

US crude: $56.04; -0.28 percent

Brent crude: $63.16; -0.47 percent

U.S. ECONOMIC DATA DUE ON MONDAY

1030 Dallas Fed Manufacturing Business Index for Jul: Prior -12.1

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$1.32) (Reporting by Nayyar Rasheed in Bengaluru; Editing by Maju Samuel)

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