Stock futures for Canada's main stock index were flat on Wednesday as investors awaited the Bank of Canada's decision on interest rate.
The S&P/TSX Composite Index gained 18.48 points to finish Tuesday at 15,476.94. June futures deducted 0.04% early Wednesday.
The Canadian dollar poked ahead 0.05 cents to 74.03 cents U.S. early Wednesday.
Bank of Montreal reported an 11% increase in second-quarter earnings, benefiting from a strong performance in its wealth management and capital markets businesses.
Champion Iron is continuing with its plans to bring Quebec's giant Bloom Lake iron ore mine back to life.
Home Capital, Canada's biggest non-bank lender, said on Tuesday it had drawn down an additional $250 million from a high interest credit line to repay a debt due on Wednesday.
BMO raised the price target on Sabina Gold & Silver to $2.40 from $1.70, with an outperform rating
RBC raised the price target on CAE Inc. to $22 from $20, with a sector perform rating
Desjardins upgrades the rating on Jean Coutu Group to hold from sell
On the economic calendar, the Bank of Canada releases its latest rate announcement this morning (10 a.m. EDT). Experts believe the central bank will hold to its overnight interest rate of 0.5%
ON BAYSTREET
The TSX Venture Exchange gained 6.02 points Friday to 806.90
ON WALLSTREET
U.S. stock index futures pointed to markets being largely unchanged on Wednesday, as investors geared up for the release of minutes from the Federal Reserve's most recent meeting.
Ahead of the opening bell, futures for the Dow Jones Industrials squeezed four points to 20,919. Futures for the S&P 500 were flat at 2,398.00. NASDAQ futures gained 6.75 points, or 0.1%, to 5,718.25.
In earnings news, Lowe's reported weaker-than-expected quarterly results, sending the firm's shares down 3.5%.
As well, investors digested a jump in total mortgage application volume. Other data set for release Wednesday include FHFA home prices and existing home sales data later on this morning.
At the meeting in May, the Federal Open Market Committee (FOMC) decided to hold off on raising interest rates.
Investors will be poring over the documents to see if there are any indications as to when the Fed could raise rates over the course of 2017. Many analysts are currently pricing in a rate hike at the central bank’s next meeting in June.
In Europe, bourses eked out slight gains, while Japan’s Nikkei 225 index climbed 0.7%, while Shanghai’s CSI 300 was flat.
Oil prices were static at $51.47 U.S. per barrel.
Gold prices wilted $3.60 to $1,251.90 U.S. an ounce.
