March 14, 2017 / 11:48 AM / 8 months ago

CANADA STOCKS-Futures down ahead of Fed meeting

    March 14 (Reuters) - Stock futures pointed to a lower
opening for Canada's main stock index on Tuesday as investors
awaited the start of the two-day U.S. Federal Reserve meeting,
even as oil prices recovered modestly from three-month lows.
    March futures on the S&P TSX index         were down 0.19
percent at 7:15 a.m. ET.
    The Toronto Stock Exchange's S&P/TSX composite index closed
up 0.25 percent at 15,544.82 on Monday, as financial stocks
pushed higher with bond yields ahead of an expected U.S. Federal
Reserve rate hike and as some mining stocks gained from higher
commodity prices.             
    Dow Jones Industrial Average e-mini futures         were
down 0.09 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
       were down 0.12 percent and Nasdaq 100 e-mini futures
       were down 0.09 percent.     
    
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    TOP STORIES          
    Billionaire investor William Ackman walked away from Valeant
Pharmaceuticals International Inc          on Monday with a loss
of more than $3 billion as he sold his entire stake in the
struggling drug company after trying to rescue it for some 18
months.             
    A consortium of Canadian and Kuwaiti investors has agreed to
buy a minority stake in Britain's Thames Water from funds
managed by Macquarie, ending the Australian group's 11-year
investment in Britain's largest water firm.             
    
    ANALYST RESEARCH HIGHLIGHTS         
    Spin Master Corp         : TD Securities raises target price
to C$43 from C$39
    DH Corp        : Eight Capital revises rating to "tender"
from "buy"
    
    COMMODITIES AT 7:15 a.m. ET           
    Gold futures       : $1202.9; +0.04 percent       
    US crude       : $48.73; +0.6 percent      
    Brent crude        : $51.76; +0.7 percent      
    LME 3-month copper        : $5793.5; -0.03 percent        
    
    U.S. ECONOMIC DATA DUE ON TUESDAY
    08:30 PPI final demand yy for Feb: Expected 2.0 pct; Prior
1.6 pct
    08:30 PPI final demand mm for Feb: Expected 0.1 pct; Prior
0.6 pct
    08:30 PPI exfood/energy yy for Feb: Expected 1.5 pct; Prior
1.2 pct
    08:30 PPI exfood/energy mm for Feb: Expected 0.2 pct; Prior
0.4 pct
    08:30 PPI ex food/energy/transport yy for Feb: Prior 1.6 pct
    08:30 PPI ex food/energy/transport mm for Feb: Prior 0.2 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$1.34)

 (Reporting by Nayyar Rasheed in Bengaluru; Editing by Sriraj
Kalluvila)
  

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