Dec 04, 2019 (Baystreet.ca via COMTEX) —
Futures for Canadian stock indexes rose on Wednesday, as oil prices gained in the run-up to meetings where the Organization of the Petroleum Exporting Countries and its allies are expected to extend output cuts. Moreover, investors awaited the central bank’s decision on interest rates.
The TSX Composite Index crumbled 89.29 points to conclude Tuesday at 16,892.18
The Canadian dollar gained 0.1 cents to 75.34 cents U.S. early Wednesday
December futures gained back 0.2% Wednesday.
Royal Bank of Canada missed estimates for quarterly profit on Wednesday, as equity trading weakened and also set aside more funds to cover bad loans.
National Bank of Canada’s fourth-quarter profit beat analysts’ expectations on Wednesday, helped by growth across segments.
Canadian Natural Resources expects to spend $4.05 billion in 2020, $250 million more than in 2019, after Alberta lifted some curtailments on new oil wells last month.
RBC cuts the target price on Bank of Montreal to $109.00 from $111.00
Citigroup raises target price on BRP to $73.00 from $71.00
RBC raised the rating on Gibson Energy to outperform from sector perform
The Bank of Canada is out this morning (about 10 a.m. EST) with its rate announcement. Experts are certain the central bank will stick to its guns and not raise rates this time around.
The TSX Venture Exchange gained 5.01 points Tuesday to 538.32
U.S. stock index futures rallied early Wednesday morning, boosted by a news report from Bloomberg that said the U.S. and China were edging closer to a trade deal.
Futures for the Dow Jones Industrials leaped 149 points, or 0.5%, Wednesday to 27,636
Futures for the S&P 500 grabbed 14.75 points at 3,105.75.
The NASDAQ Composite popped 50.5 points, or 0.6%, to 8,301.75.
The Bloomberg report, which cited people