Dec 16 (Reuters) - Canada's main stock index looked set to
open higher on Wednesday as investors prepared for the first
U.S. interest rate increase since 2006.
The Federal Reserve is expected to announce a token hike of
25 basis points, from near zero, at 2 p.m. ET (1900 GMT).
March futures on the S&P TSX index SXFc2 were up 0.63
percent at 7:15 a.m. ET.
Canada's main stock index jumped on Tuesday in a broad rally
led by shares in energy companies as crude prices rose. Bank
stocks also gained.
Dow Jones Industrial Average e-mini futures 1YMc2 were up
0.49 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
Esc2 were up 0.43 percent and Nasdaq 100 e-mini futures NQc2
were up 0.40 percent. .N
(Morning News Call newsletter http://link.reuters.com/nex49s;
The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES TOP/CAN
Valeant Pharmaceuticals International Inc (N:VRX) VRX.TO VRX.N
cut its revenue and profit forecasts for 2015, but said it still
expected double-digit percentage sales growth through higher
volumes in 2016.
The Public Sector Pension Investment Board, one of Canada's
10 largest pension fund managers, is considering entering the
oil and gas sector as weak crude prices create opportunities for
long-term investors, Chief Executive Andre Bourbonnais said.
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc2 : $1,063; +0.11 pct GOL/
US crude CLc1 : $37.20; -0.40 pct O/R
Brent crude LCOc1 : $37.62; -2.16 pct O/R
LME 3-month copper CMCU3 : $4,578; +0.28 pct MET/L
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Enerflex Ltd EFX.TO : Raymond James raises cuts to market
perform from outperform; target price to C$15.50 from C$15
Whitecap Resources Inc WCP.TO : Barclays (L:BARC) cuts target price
to C$12 from C$13
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Building permits number for Nov: Expected 1.150 mln;
Prior 1.161 mln
0830 Build permits change mm for Nov: Prior +5.1 pct
0830 Housing starts number mm for Nov: Expected 1.135 mln;
Prior 1.060 mln
0830 House starts change mm for Nov: Prior -11.0 pct
0915 Industrial output mm for Nov: Expected -0.1 pct; Prior
-0.2 pct
0915 Capacity utilization mm for Nov: Expected +77.4 pct;
Prior +77.5 pct
0915 Manufacturing output mm for Nov: Expected +0.1 pct;
Prior +0.4 pct
0945 Markit Manufacturing PMI Flash for Dec: Expected 52.6;
Prior 52.8
1400 Fed funds target rate: Expected +0.375 pct
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$1.37)