August 8, 2018 / 11:41 AM / 4 months ago

CANADA STOCKS-TSX futures point to higher open

Aug 8 (Reuters) - Futures for Canada’s main stock index rose on Wednesday, tracking global markets, supported by strong U.S. earnings and expectations of additional stimulus from Beijing that could soften the impact of the ongoing trade dispute with the U.S.

September futures on the S&P/TSX index were up 0.54 percent at 7:15 a.m. ET.

Building permit data for June is due at 08:30 a.m. ET.

Canada’s main stock index closed down on Tuesday.

Dow Jones Industrial Average e-mini futures were up 0.07 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.03 percent and Nasdaq 100 e-mini futures were up 0.04 percent.

TOP STORIES

Auto parts maker Magna International Inc lowered its full-year production forecast for North America, hurt in part by tariffs imposed by the Trump administration.

Thomson Reuters Corp, reported a 2 percent rise in quarterly revenue and reaffirmed its 2018 forecast, saying it was on track for a “solid” year.

Air France-KLM’s nominations committee has picked Benjamin Smith, Air Canada’s chief operating officer, as its preferred candidate to head the airline, French newspaper Le Monde reported.

ANALYST RESEARCH HIGHLIGHTS

Linamar Corp: RBC cuts target price to C$83 from C$86

Kirkland Lake Gold Ltd: RBC raises target price to C$32 from C$26

Western Forest Products Inc: CIBC cuts target price to C$3.00 from C$3.25

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1218.7; +0.03 percent

US crude: $68.82; -0.51 percent

Brent crude: $74.46; -0.25 percent

LME 3-month copper: $6138.5; -0.59 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

1100 TR IPSOS PCSI for Aug: Prior 61.85

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 Priyanka Das in Bengaluru; Editing by Shounak Dasgupta)

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