(Reuters) – Futures for Canada’s main stock index rose on Friday, mirroring upbeat global sentiment on optimism over a potential diplomatic resolution to the Russia-Ukraine standoff, although weaker crude prices limited gains.
March futures on the S&P/TSX index were up 0.3% at 7:00 a.m. ET.
U.S. Secretary of State Antony Blinken agreed to a meeting with Russia’s foreign minister Sergei Lavrov next week, raising the prospect of ending the standoff over Ukraine.
Canada’s domestic retail sales likely fell 2.1% in December compared to a 0.7% rise in prior month, according to a forecast of analysts polled by Reuters. The data is due at 08:30 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index ended 0.97% lower at 21,176.33 on Thursday, its lowest closing level since Feb. 3. [.TO]
The benchmark equity index could snap its three-week winning streak, as concerns around soaring inflation and geopolitical tensions have roiled market in recent days.
Dow e-minis were up 83 points, or 0.24% at 7:00 a.m. ET, while S&P 500 e-minis were up 15.75 points, or 0.36% and Nasdaq 100 e-minis were up 75.25 points, or 0.53%. [.N]
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Home Capital Group Inc: RBC raises target price to C$56 from C$54
MTY Food Group Inc: RBC raises target price to C$66 from C$62
Superior Plus Corp: Canaccord Genuity cuts to “hold” from “buy”
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1890.9; -0.53% [GOL/]
US crude: $89.87; -2.06% [O/R]
Brent crude: $91.16; -1.96% [O/R]
U.S. ECONOMIC DATA DUE ON FRIDAY
1000 Existing home sales for Jan: Expected 6.10 mln; Prior 6.18 mln
1000 Existing home sales percentage change for Jan: Expected -1.0%; Prior -4.6%
1000 Leading index change mm for Jan: Expected 0.2%; Prior 0.8%
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 Vinay Dwivedi)
