Dec 2 (Reuters) - Futures pointed to a higher opening for
Canada's main stock index on Wednesday ahead of a Bank of Canada
policy announcement on interest rates.
The central bank is widely expected to hold rates at 0.50
percent. The announcement is due at 10:00 a.m. ET (1500 GMT).
ECONCA
The central bank has cut rates twice this year to offset the
shock to the economy from a drop in oil prices.
December futures on the S&P TSX index SXFc1 were up 0.26
percent at 7:15 a.m. ET.
Canada's main stock index rallied on Tuesday to its highest
closing level in nearly four weeks, led by financials following
stronger-than-expected earnings for two of the country's main
banks, while resource stocks also gained.
Dow Jones Industrial Average e-mini futures 1YMc1 were up
0.04 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
Esc1 were up 0.05 percent and Nasdaq 100 e-mini futures NQc1
were up 0.19 percent. .N
(Morning News Call newsletter http://link.reuters.com/nex49s;
The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES TOP/CAN
Royal Bank of Canada RY.TO reported an 11 percent rise in
fourth-quarter profit that topped market expectations, driven by
gains at its personal, commercial banking and capital markets
businesses.
Canada's Liberal government should commit to a 12-nation
Pacific Rim free-trade deal inked by the country's former
leaders, but it also must invest further in local auto assembly,
a group representing auto-parts manufacturers said Tuesday.
French train maker Alstom (PA:ALSO) should use the proceeds of the
sale of its energy unit to make acquisitions abroad and could
consider a tie-up with Canadian rival Bombardier BBDb.TO ,
French Economy Minister Emmanuel Macron said on Tuesday.
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc2 : $1,066.8; +0.3 pct GOL/
US crude CLc1 : $41.32; -1.24 pct O/R
Brent crude LCOc1 : $43.86; -1.31 pct O/R
LME 3-month copper CMCU3 : $4,602; -0.65 pct MET/L
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Empire Company Ltd EMPa.TO : Raymond James cuts to "market
perform" from "outperform"; target price to C$28 from C$31
Lundin Mining LUN.TO : Kepler Cheuvreux raises to "buy"
from "reduce"
Bank of Nova Scotia BNS.TO : NBF raises price target to
C$67 from C$65
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0815 ADP national employment for Nov: Expected 190,000;
Prior 182,000
0830 Labor costs revised for Q3: Expected +1.1 pct; Prior
+1.4 pct
0830 Productivity revised for Q3: Expected +2.2 pct; Prior
+1.6 pct
0945 ISM NY Business Conditions Index for Nov: Prior 65.8
0945 ISM-New York Index for Nov: Prior 705.3
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1
EPOLL/CA
Canadian markets directory CANADA
($1= C$1.34)