News Column

Futures point to lower open

August 26, 2014



Banks in focus







Stock futures pointed to a lower opening for Canada's main stock index on Tuesday

The S&P/TSX composite index was up 63.19 points to close Monday at 15,598.74. September futures were down 0.07%.

The Canadian dollar picked up 0.14 cents to 91.19 cents U.S. early Tuesday.

Bank of Nova Scotia reported a higher quarterly profit as strength at its wealth management and insurance businesses boosted its bottom line and allowed Canada's number-three lender to raise its dividend.

Bank of Montreal reported a stronger third-quarter profit, helped by gains at its Canadian and U.S. personal and commercial banking units and higher revenue at its capital markets arm.

Barclays raised price target on Whitecap Resources to $20 from $18

ON BAYSTREET

The TSX Venture Exchange gained 2.66 points Monday to 1,008.24

ON WALLSTREET

U.S. stock futures were up Tuesday and European markets were mostly in negative territory.

Ahead of the opening bell, futures for the Dow Jones Industrials took on 27 points, or 0.2%, to 17,083. Futures for the S&P 500 gained 2.75 points, or 0.1%, to 1,997.75, and futures for the NASDAQ gained 7.5 points, or 0.2%, to 4,071.

In New York, Best Buy will report earnings before the opening bell. Gun maker Smith & Wesson will report after the close.

The S&P/Case-Shiller 20-city home price index comes out at 9 a.m. ET., followed by the Conference Board's consumer confidence index at 10 a.m.

Shares in advertising giant WPP were higher by roughly 2% in London after the firm reported strong half-year earnings.

European markets were mostly lower in early trading Tuesday after rallying in the previous session. The London FTSE 100, which was closed for a holiday Monday, was higher as it played catch-up with the rest of the continent.

Most Asian markets ended with losses Tuesday.

Oil prices gained 17 cents to $93.52 U.S. a barrel

Gold prices hiked $8.50 to $1,287.40 U.S. an ounce.



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Source: Baystreet Stock Market Update (Canada)


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