October 24, 2018 / 11:36 AM / a month ago

CANADA STOCKS-Futures down ahead of Bank of Canada rate decision

Oct 24 (Reuters) - Futures for Canada’s main stock index fell on Wednesday, with investors focusing on interest rate decision from the Bank of Canada.

December futures on the S&P/TSX index were down 0.2 percent at 6:55 a.m. ET.

Bank of Canada will announce its interest rate decision at 10:00 a.m. ET. The central bank is expected to hike interest rates by 25 basis points to 1.75 percent, according to a Reuters survey of economists.

The Toronto Stock Exchange’s S&P/TSX fell 127.53 points, or 0.83 percent, to 15,285.17 on Tuesday.

Dow Jones Industrial Average e-mini futures were down 0.4 percent at 6:55 a.m. ET, while S&P 500 e-mini futures were down 0.5 percent and Nasdaq 100 e-mini futures were down 0.6 percent.

TOP STORIES

Restaurant Brands International Inc reported a quarterly profit that missed analysts’ estimates as its Burger King unit struggled in a fiercely competitive U.S. market, offsetting gains in its Tim Hortons cafes.

Canadian National Railway Co reported a better-than-expected third-quarter profit on Tuesday as the railroad shipped higher volumes of crude and grains.

ANALYST RESEARCH HIGHLIGHTS

IPL Plastics Inc: National Bank Of Canada cuts target price to C$13.5 from C$16

TVA Group Inc: CIBC cuts target price to C$3 from C$4.25

COMMODITIES AT 6:55 a.m. ET

Gold futures: $1230.8; -0.27 percent

US crude: $66.46; +0.05 percent

Brent crude: $76.06; -0.5 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0800 Build permits number for Sep: Prior 1.241 mln

0800 Build permits R change mm for Sep: Prior -0.6 pct

0900 Monthly home price mm for Aug: Prior 0.2 pct

0900 Monthly home price yy for Aug: Prior 6.4 pct

0900 Monthly Home Price Index for Aug: Prior 265

0945 Markit Composite Flash PMI for Oct: Prior 53.9

0945 Markit Manufacturing PMI Flash for Oct: Expected 55.5; Prior 55.6

0945 Markit Services PMI Flash for Oct: Expected 54; Prior 53.5

1000 New home sales-units for Sep: Expected 0.625 mln; Prior 0.629 mln

1000 New home sales change mm for Sep: Expected -1.4 pct; Prior 3.5 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$1.32) (Reporting by Yoganand KN in Bengaluru; Editing by Sriraj Kalluvila)

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