April 10, 2018 / 11:29 AM / 7 months ago

TSX futures rise as trade dispute fears ease

FILE PHOTO: A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. Canada's main stock index was little changed on Monday as weakness in financial and energy shares offset gains in the materials sector. REUTERS/Mark Blinch

(Reuters) - Futures pointed to a higher opening for Canada’s main stock index on Tuesday as Chinese President Xi Jinping’s promise to lower import tariffs eased concerns about a Sino-U.S. trade war.

Xi said China will sharply widen market access for foreign investors, a chief complaint of the country’s trading partners and a point of contention for U.S. President Donald Trump’s administration, which has threatened billions of dollars in tariffs on Chinese goods.

June futures on the S&P TSX index SXFc1 were up 0.63 percent at 7:15 a.m. ET.

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Canada’s main stock index rose on Monday as gains for financials offset a steep decline in the shares of Kinder Morgan Canada Ltd after the company halted most work on a disputed pipeline expansion.

Dow Jones Industrial Average e-mini futures 1YMc1 were up 1.13 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were up 1.1 percent and Nasdaq 100 e-mini futures NQc1 were up 1.47 percent. [.N]

Reporting by Shradha Singh in Bengaluru; Editing by Saumyadeb Chakrabarty

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