(Reuters) – Stock futures for Canada’s main stock index on Thursday were flat after the U.S. Federal Reserve raised interest rates on Wednesday and as the European Central Bank prepared to wind down its 2.55 trillion-euro stimulus program.
FILE PHOTO – A man walks past an old Toronto Stock Exchange (TSX) sign in Toronto, Ontario, Canada on June 23, 2014. REUTERS/Mark Blinch/File Photo
In raising its benchmark overnight lending rate a quarter of a percentage point to a range of 1.75 percent to 2 percent, the Fed dropped its pledge to keep rates low enough to stimulate the economy “for some time” and signaled it would tolerate inflation above its 2 percent target at least through 2020.
The ECB is expected to argue that its 2.55 trillion euro ($3.00 trillion) bond-buying scheme has done its job in bringing the 19-member currency bloc back from the brink of collapse.
June futures on the S&P/TSX index SXFc1 were down 0.02 percent at 7:15 a.m. ET.
New housing price index data is due at 8:30 a.m. ET
The Toronto Stock Exchange’s S&P/TSX .GSPTSE fell 23.16 points, or 0.14 percent, to 16,265.82, on Wednesday.
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.02 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were flat and Nasdaq 100 e-mini futures NQc1 were down 0.09 percent. [.N]
TOP STORIES [TOP/CAN]
Italy will not ratify the European Union’s free trade agreement with Canada because it does not ensure sufficient protection for the country’s specialty foods, new Agriculture Minister Gian Marco Centinaio said in a newspaper interview.
Canadian National Railway Co (CNR.TO) said it plans to invest around C$210 million in Quebec this year to expand its railway network across the province.
Canadian energy company Enbridge Inc (ENB.TO) started construction of