March 7 (Reuters) - Canadian benchmark stock index futures edged higher
on Tuesday, tracking strength in U.S. markets ahead of the Federal Reserve
chief's testimony to the Congress, though weakness in crude prices on concerns
around demand from China capped gains.
March futures on the S&P/TSX index were up 0.1% at 7:00 a.m. ET.
Their U.S. peers were also up ahead of Fed Chair Jerome Powell's testimony
before the Senate Banking Committee at 10:00 a.m. ET, that could shed more light
on the central bank's plans for raising interest rates. On Monday, the Toronto Stock Exchange's S&P/TSX composite index closed 0.3% lower, weighed down by commodity-linked stocks after China set a
modest annual growth target. On Tuesday, crude oil prices edged lower after trade data from top consumer
China pointed to continued weakness in demand for the country's products during
the January-February period. Among stocks, software firm BlackBerry Inc reported a lower-than
expected annual sales forecast and also noted that macro challenges during the
reported quarter negatively impacted revenue.
Paris-listed Latecoere SA said that the aircraft equipment
manufacturer would sell its electrical wiring and interconnection systems
business to Bombardier Inc .
COMMODITIES AT 7:00 a.m. ET
Gold futures : $1,847.6; -0.3% US crude : $80.04; -0.4% Brent crude : $85.77; -0.4% 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 = 1.3630 Canadian dollars)
(Reporting by Johann M Cherian in Bengaluru; Editing by Shailesh Kuber)
