March 1 (Reuters) - Stock futures pointed to a higher start
for Canada's main stock index on Tuesday after oil prices rose
to a two-month high following China's surprise monetary policy
easing.
March futures on the S&P TSX index SXFc1 were up 0.89
percent at 7:30 a.m. ET.
Canada's fourth-quarter gross domestic product growth data
is due at 8:30 a.m. ET and RBC's Manufacturing Purchasing
Managers' Index at 9:30 a.m. ET.
China has cut the amount of cash that banks must hold as
reserves, positively surprising markets as the move frees up an
estimated $100 billion for fresh lending.
Weak manufacturing data from Europe, which strengthened the
case for more stimulus from the European Central Bank next week,
also boosted investor sentiment.
Canada's main stock index rose on Monday as commodity market
gains drove resource stocks higher, while Valeant
Pharmaceuticals International VRX.TO fell on news the company
is under investigation by the U.S. Securities and Exchange
Commission.
Dow Jones Industrial Average e-mini futures 1YMc1 were up
0.74 percent at 7:30 a.m. ET. S&P 500 e-mini futures Esc1 were
up 0.79 percent and Nasdaq 100 e-mini futures NQc1 were up
0.80 percent.
TOP STORIES
Bank of Nova Scotia BNS.TO , Canada's third-largest bank,
reported a 5.1 percent rise in quarterly profit, helped by
growth in its international banking business.
Maple Leaf Foods MFI.TO reported a quarterly profit,
compared with a year-earlier loss, helped by improved margins in
its prepared meats business.
WestJet Airlines Ltd WJA.TO has started talks with
aircraft makers on replacements for its fleet of Boeing (N:BA) 767-300
planes, with delivery of the new planes expected by the end of
this decade.
AT 7:30 a.m. ET Gold futures GCc1 : $1,244.30; +0.84 pct
US crude CLc1 : $34.29; +1.57 pct
Brent crude LCOc1 : $36.82; +0.68 pct
LME 3-month copper CMCU3 : $4,724.00; +0.62 pct
ANALYST RESEARCH HIGHLIGHTS
Acadian Timber Corp ADN.TO : CIBC starts coverage with
"sector performer" rating; target price C$20
Delphi Energy Corp DEE.TO : Raymond James cuts target price
to C$1.75 from C$1.85; rating "strong buy"
Prairiesky Royalty Ltd PSK.TO : NBF raises target price to
C$24 from C$23; rating "outperform"
U.S. ECONOMIC DATA DUE ON TUESDAY
0855 Johnson Redbook retail sales index mm: Prior -2.3 pct
0855 Johnson Redbook retail sales index yy: Prior +1.2 pct
0945 Markit Manufacturing PMI Final for Feb: Prior 51.0
1000 Construction spending mm for Jan: Expected +0.4 pct;
Prior +0.1 pct
1000 ISM Manufacturing PMI for Feb: Expected 48.5; Prior
48.2
1000 ISM Manufacturing Prices Paid Index for Feb: Expected
34.5; Prior 33.5
1000 ISM Manufacturing Employment Index for Feb: Expected
46.4; Prior 45.9
1000 ISM Manufacturing New Orders Index for Feb: Prior 51.5
1030 Texas Services Sector Outlook for Feb: Prior -10.4
1030 Dallas Fed Services Revenue Index for Feb: Prior 10.0
1330 Domestic car sales for Feb: Expected 5.50 mln; Prior
5.54 mln
1330 Domestic truck sales for Feb: Expected 8.49 mln; Prior
8.62 mln
1330 Total vehicle sales for Feb: Expected 17.68 mln; Prior
17.58 mln
1330 All car sales for Feb: Prior 7.43 mln
1330 All truck sales for Feb: Prior 10.15 mln
($1= C$1.35)