(Reuters) – Futures for Canada’s largest stock index edged higher Wednesday. It mirrors positive market sentiment and investors are eager to see Russia’s response in Ukraine’s standoff after Western sanctions were imposed against Moscow.

March futures in the S&P/TSX index were up 0.3%, as of 0651 ET.

The West placed new sanctions on Russia Tuesday after it ordered troops in separatist territories of Ukraine. They also warned that they would go further against Moscow if the invasion was successful.

Additional gains were restricted as crude oil prices fell from their seven-year peak. This was due to the realization that sanctions imposed by the U.S. on Russia in the beginning of the session were not likely to cause disruptions in oil supply. [O/R]

The Toronto Stock Exchange’s S&P/TSX composite index ended 0.5% lower at 20,907.82 on Tuesday, its fourth straight decline and its lowest closing level since Jan. 28. ()

At 0651 ET they were up 0.5% or 166 points. They were also up 0.6% or 26 points and up 131.25 or 0.95%. [.N]

TOP STORIES [TOP/CAN]

Justin Trudeau (Canadian Prime Minister) announced Tuesday the first round economic sanctions against Russia, just 24 hours after Moscow declared Donetsk-Luhansk separatist territories of Ukraine independent.

HIGHLIGHTS FROM ANALYST-RESEARCH [RCH/CA]

Bank of Montreal: National Bank of Canada increases target price by C$163

Neighbourly Pharmacy Inc. Veritas Research increases to “buy”, from “reduce.”

Royal Bank of Canada: National Bank of Canada increases PT from C$140 to C$147

COMMODITIES AT 7:00 a.m. ET

: $1895.5; -0.57% [GOL/]

US crude oil $91.37. -0.59% [O/R]

: $96.36; -0.5% [O/R]

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($1= C$1.27)