September 20, 2017 / 11:38 AM / a month ago

CANADA STOCKS-TSX futures edge higher; Fed meet in focus

Sept 20 (Reuters) - Canada’s main stock index futures were trading slightly higher on Wednesday, as investors were cautious ahead of a U.S. Federal Reserve policy meeting that may give clues on whether it will raise interest rates for a third time this year.

September futures on the S&P TSX index were up 0.08 percent at 7:15 a.m. ET.

Canada’s main stock index rose to six-week highs on Tuesday, buoyed by a broad rally led by financial and energy stocks, as investors waited for clues from the U.S. Federal Reserve on its next move.

Dow Jones Industrial Average e-mini futures were flat at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.02 percent and Nasdaq 100 e-mini futures were flat.

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TOP STORIES

Brookfield Asset Management Inc is considering increasing a takeover offer for Renova Energia SA by 25 percent in a bid to sway the two largest shareholders in the Brazilian renewable power firm to exit their controlling stakes, two people with direct knowledge of the matter said on Tuesday.

More than 120 birds in Canada’s oil heartland of Alberta were killed after getting caught in a pond of oil sands byproducts operated by the country’s largest producer, Suncor Energy Inc, the local regulator said on Tuesday.

ANALYST RESEARCH HIGHLIGHTS

Air Canada: Cowen and Company raises target price to C$40 from C$23

Corus Entertainment Inc: National Bank of Canada cuts target price to C$12.50 from C$13

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1318.3; +0.57 pct

US crude: $50.08; +1.21 percent

Brent crude: $55.85; +1.29 percent

LME 3-month copper: $6560; +0.32 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

1000 Existing home sales for Aug: Expected 5.46 mln; Prior 5.44 mln

1000 Existing home sales percentage change for Aug: Expected 0.3 pct; Prior -1.3 pct

1400 Fed funds target rate: Expected 1.0-1.25 pct; Prior 1.0-1.25 pct

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$1.22) (Reporting by Erum Khaled in Bengaluru; Editing by Bernard Orr)

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