September 11, 2018 / 11:40 AM / a month ago

CANADA STOCKS-TSX set to open flat, NAFTA talks in focus

Sept 11 (Reuters) - Futures pointed to a flat opening for Canada’s main stock index on Tuesday, with investors keeping a close watch on another round of talks between Canadian and U.S. officials to revamp the North America Free Trade Agreement.

Canadian Foreign Minister Chrystia Freeland will meet U.S. Trade Representative Robert Lighthizer in Washington for another round of talks to renew the NAFTA trade pact, an official said on Monday, as time runs short to seal a deal.

After more than a year of negotiations, Canada and the United States are still trying to resolve differences over the trade agreement, which also includes Mexico.

September futures on the S&P/TSX index were up 0.03 percent at 6:55 a.m. ET.

Housing starts data is due at 8:15 a.m. ET

Toronto Stock Exchange S&P/TSX composite index unofficially closes down 33.18 points, or 0.21 percent, at 16,057.09 on Monday.

Dow Jones Industrial Average e-mini futures were down 0.36 percent at 7:05 a.m. ET, while S&P 500 e-mini futures were down 0.23 percent and Nasdaq 100 e-mini futures were down 0.22 percent.

TOP STORIES

Hudson’s Bay Company and Signa Holding have agreed to merge Germany’s two major department store chains, Galeria Kaufhof and Karstadt as they seek to respond to fierce competition from e-commerce players.

ANALYST RESEARCH HIGHLIGHTS

Altagas Ltd: CIBC cuts price target to C$30 from C$32

Element Fleet Management Corp: CIBC raises to outperformer from neutral

Empire Company Ltd: Barclays raises target price to C$31 from C$30

COMMODITIES AT 7:05 a.m. ET

Gold futures: $1,194.1; fell 0.03 pct

US crude: $67.85; rose 0.46 pct

Brent crude: $78.01; rose 0.87 pct

U.S. ECONOMIC DATA DUE ON TUESDAY

1000 JOLTS job openings for Jul: Prior 6.662 mln

1000 Wholesale inventory, R mm for Jul: Expected 0.7 pct; Prior 0.7 pct

1000 Wholesale sales mm for Jul: Expected 0.3 pct; Prior -0.1 pct

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1= C$1.32) (Reporting By Nachiket Tekawade in Bengaluru; Editing by Arun Koyyur)

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