September 11, 2019 / 11:31 AM / 10 days ago

CANADA STOCKS-Futures rise on hopes of easing U.S.-China trade tensions

Sept 11 (Reuters) - Futures for Canada’s main stock index edged higher on Wednesday, as investors were encouraged by hopes of a resolution to the Sino-U.S. trade standoff.

China announced its first batch of tariff exemptions for 16 types of U.S. products, days ahead of a planned meeting between trade negotiators from the two countries to try and de-escalate their bruising tariff row.

September futures on the S&P/TSX index were up 0.28% at 7:00 a.m. ET.

Canada’s capacity utilization data for the second quarter is due at 8:30 a.m. ET.

The Toronto Stock Exchange S&P/TSX composite index rose 0.26% to 16,537.34 on Tuesday.

Dow Jones Industrial Average e-mini futures were up 0.1% at 7:00 a.m. ET and S&P 500 e-mini futures 0.01%, while Nasdaq 100 e-mini futures were down 0.04%.

TOP STORIES

A unit of Spain’s Ferrovial S.A. is appealing a Canadian court decision over SNC Lavalin Group Inc’s former 10.01% stake in a toll highway, a source and the Montreal-based company told Reuters on Tuesday.

Catalyst Capital Group Inc holds roughly 16% of Hudson’s Bay Co shares after investors took part in its tender offer, bolstering the buyout firm’s position against a take-private deal, according to a Canadian securities filing made on Tuesday.

ANALYST RESEARCH HIGHLIGHTS

Canadian Natural Resources Ltd: JP Morgan establishes Dec. 2020 price target of C$41 vs Dec. 2019 price target of C$44

Fortis Inc: CIBC raises price target to C$56 from C$55

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1494.6; +0.13%

U.S. crude: $57.98; +1.01%

Brent crude: $62.85; +0.75%

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 PPI final demand yy for Aug: Expected 1.7%; Prior 1.7%

0830 PPI final demand mm for Aug: Expected 0.0%; Prior 0.2%

0830 PPI exfood/energy yy for Aug: Expected 2.2%; Prior 2.1%

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

0830 PPI ex food/energy/transport yy for Aug: Prior 1.7%

0830 PPI ex food/energy/transport mm for Aug: Prior -0.1%

1000 Wholesale inventory, R mm for Jul: Expected 0.2%; Prior 0.2%

1000 Wholesale sales mm for Jul: Expected 0.2%; Prior -0.3%

1100 TR IPSOS PCSI for Sep: Prior 60.59

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$1.31)

Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by Shinjini Ganguli

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