Futures rise on hopes of easing U.S.-China trade tensions

(Reuters) – Futures for Canada’s main stock index edged higher on Wednesday, as investors were encouraged by hopes of a resolution to the Sino-U.S. trade standoff.

FILE PHOTO: A TMX Group sign, the company that runs the Toronto Stock Exchange (TSX), is seen in Toronto, June 23, 2014. REUTERS/Mark Blinch

China announced its first batch of tariff exemptions for 16 types of U.S. products, days ahead of a planned meeting between trade negotiators from the two countries to try and de-escalate their bruising tariff row.

September futures on the S&P/TSX index SXFc1 were up 0.28% at 7:00 a.m. ET.

Canada’s capacity utilization data for the second quarter is due at 8:30 a.m. ET.

The Toronto Stock Exchange S&P/TSX composite index .GSPTSE rose 0.26% to 16,537.34 on Tuesday.

Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.1% at 7:00 a.m. ET and S&P 500 e-mini futures ESc1 0.01%, while Nasdaq 100 e-mini futures NQc1 were down 0.04%. [.N]

TOP STORIES [TOP/CAN]

A unit of Spain’s Ferrovial S.A. (FER.MC) is appealing a Canadian court decision over SNC Lavalin Group Inc’s (SNC.TO) former 10.01% stake in a toll highway, a source and the Montreal-based company told Reuters on Tuesday.

Catalyst Capital Group Inc holds roughly 16% of Hudson’s Bay Co (HBC.TO) shares after investors took part in its tender offer, bolstering the buyout firm’s position against a take-private deal, according to a Canadian securities filing made on Tuesday.

ANALYST RESEARCH HIGHLIGHTS [RCH/CA]

Canadian Natural Resources Ltd (CNQ.TO): JP Morgan establishes Dec. 2020 price target of C$41 vs Dec. 2019 price target of C$44

Fortis Inc (FTS.TO): CIBC raises price target to C$56 from C$55

COMMODITIES AT 7:00 a.m. ET [COM/WRAP]

Gold futures GCc2: $1494.6; +0.13% [GOL/]

U.S. crude CLc1: $57.98; +1.01% [O/R]

Brent crude LCOc1: $62.85; +0.75%

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