(Reuters) – Futures for Canada’s main stock index fell on Tuesday, with investors joining a global flight from risky assets, as tensions between Russia and Ukraine escalated, although stronger crude prices on the back of supply concerns limited further losses.
March futures on the S&P/TSX index were down 0.2% at 6:48 a.m. ET.
Global stocks slumped, while oil prices surged to their highest in seven years as Europe’s eastern flank stood on the cusp of war after Russian President Vladimir Putin ordered troops into two breakaway regions of eastern Ukraine. [MKTS/GLOB] [O/R]
The Toronto Stock Exchange’s S&P/TSX composite index ended 0.8% lower at 21,008.20 on Friday. [.TO]
Dow e-minis were down 126 points, or 0.37%, as of 0648 a.m. ET, while S&P 500 e-minis were down 15.5 points, or 0.36%, and Nasdaq 100 e-minis were down 113 points, or 0.81%. [.N]
TOP STORIES [TOP/CAN]
Canada’s parliament backed Prime Minister Justin Trudeau’s decision on Monday to invoke rarely-used emergency powers to end pandemic-related protests that have blocked streets in the capital Ottawa for more than three weeks.
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Air Canada: CIBC raises target price to C$35 from C$33
Dye & Durham Ltd: Canaccord Genuity cuts target price to C$65 from C$75
Uni-Select Inc: National Bank of Canada raises PT to C$31 from C$27.50
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1896.9; -0.1% [GOL/]
US crude: $94.43; +3.64% [O/R]
Brent crude: $97.79; +2.5% [O/R]
U.S. ECONOMIC DATA DUE ON TUESDAY
0900 Monthly home price mm for Dec: Prior 1.1%
0900 Monthly home price yy for Dec: Prior 17.5%
0900 Monthly Home Price Index for Dec: Prior 362.4
0900 Caseshiller 20 mm SA for Dec: Expected 1.1%; Prior 1.2%
0900 Caseshiller 20 mm NSA for Dec: Prior 1.0%
0900 Caseshiller 20 yy for Dec: Expected 18.0%; Prior 18.3%
0945 Markit Manufacturing PMI Flash for Feb: Expected 56.0; Prior 55.5
0945 Markit Services PMI Flash for Feb: Expected 53.0; Prior 51.2
0945 Markit Composite Flash PMI for Feb: Prior 51.1
1000 Consumer Confidence for Feb: Expected 110.0; Prior 113.8
1000 Rich Fed Composite Index for Feb: Prior 8
1000 Rich Fed, Services Index for Feb: Prior 4
1000 Rich Fed Manufacturing Shipments for Feb: Prior 14
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report [.TO]
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
($1= C$1.27)
(Reporting by Amal S in Bengaluru; Editing by Sherry Jacob-Phillips)
