(Reuters) – Futures for Canada’s main stock index fell more than 1% on Thursday, tracking global markets, after Russian President Vladimir Putin launched an invasion of Ukraine.
March futures on the S&P/TSX index were down 1.5% at 6:54 a.m. ET.
Russian forces invaded Ukraine by land, air and sea on Thursday, confirming the worst fears of the West with the biggest attack by one state against another in Europe since World War Two.
Losses were limited by stronger crude prices with Brent rising above $105 a barrel for the first time since 2014, after Russia’s attack on Ukraine exacerbated concerns about disruptions to global energy supply. [O/R]
The Toronto Stock Exchange’s S&P/TSX composite index ended 0.8% lower at 20,744.17 on Wednesday, posting its fifth straight session declines and marked its lowest closing level since Jan. 28. [.TO]
Dow e-minis were down 785 points, or 2.37% at 6:54 a.m. ET. S&P 500 e-minis were down 98.75 points, or 2.34% and Nasdaq 100 e-minis were down 390 points, or 2.89%. [.N]
TOP STORIES [TOP/CAN]
Canadian miner Teck Resources Ltd, reported a better-than expected fourth-quarter profit on Thursday, driven by higher prices for copper and steelmaking coal.
The Bank of Canada will raise interest rates by 25 basis points on March 2, earlier than previously thought and ahead of the U.S. Federal Reserve, according to economists surveyed in a Reuters poll, which also showed expectations that rates will be higher by year-end than previously thought.
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Boralex Inc: National Bank of Canada raises target price to C$42 from C$41
Dream Unlimited Corp: CIBC raises target price to C$52 from C$37
Stantec Inc: National Bank of Canada raises to “outperform” from “sector perform”
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1971.7; +3.26% [GOL/]
US crude: $99.42; +7.95% [O/R]
Brent crude: $104.81; +8.26% [O/R]
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$1.28)
(Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)
