Futures on Rise Wednesday ahead of BoC Decision

Bay, Natural Resources in Focus

Stock futures for Canada's main stock index rose on Wednesday, ahead of Bank of Canada's interest rate decision.

The S&P/TSX Composite Index tumbled 211.38 points, or 1.4%, to end Tuesday to 15,063.59

The Canadian dollar lost 0.11 cents at 75.32 U.S. early Wednesday

December futures advanced 0.4% Tuesday.

Hudson's Bay Co reported a bigger third-quarter loss as depreciation and amortization expenses rose and joint venture losses increased.

Two major pipelines carrying oil from Canada to the United States were hit by weather-related disruptions on Tuesday, the latest hit to Canada's oil industry just days after the Alberta government announced forced cuts in crude production.

Canadian Natural Resources forecast a 2019 capital budget about $1 billion lower than last year, blaming a lack of market access for its oil and "dysfunctional" government processes.

Barclays cut the price target on Bank of Montreal to $103.00 from $105.00

Desjardins upgraded the rating on Dollarama to buy from hold

National Bank of Canada raised the price target on Thomson Reuters to $73.00 from $69.00

The Bank of Canada is scheduled to announce its decision at 10:00 a.m. ET and is expected by analysts to keep rates unchanged


The TSX Venture Exchange tumbled 11.5 points, or 2%, to finish Tuesday at 572.13

Overseas, in Japan, the Nikkei 225 hesitated 0.5% Wednesday, while in Hong Kong, the Hang Seng index tumbled 1.6%

Oil prices gained $1.02 to $53.97 U.S. a barrel.

Gold prices added $5.50 to $1,245.10 U.S. an ounce.


On Wednesday, U.S. equity, option and fixed income markets will be closed due to the declaration of a National Day of Mourning to honour former President George H.W. Bush.