June 2 (Reuters) - Canadian stocks looked set to start the week higher, after strong Chinese manufacturing data reinforced views that the world's second-largest economy is regaining momentum.
June futures on the S&P TSX index <0#SXF:> were up 0.17 percent at 0715 ET.
The TSX index edged higher on Friday, pulled up by Valeant Pharmaceuticals International after it again boosted the cash component of its takeover bid for Allergan Inc. The move bucked up market sentiment following the release of weak economic growth figures early in the day.
Dow Jones Industrial Average futures were up 0.1 percent at 0715 ET, while S&P 500 futures were up 0.07 percent and Nasdaq 100 futures were up 0.11 percent.
Canadian manufacturing PMI data for May is due at 0930 ET.
Canadian trucking company TransForce Inc said it would buy truckload transport and logistics company Transport America for $310 million, including debt, from private equity firm Goldner Hawn Johnson & Morrison Inc.
Royal Bank of Canada may invest as much as $1 billion in a hedge fund spun off from its proprietary trading business, Bloomberg reported.
COMMODITIES AT 0715 ET
Gold futures : $1,247.2; +0.11 pct
US crude : $102.93; +0.21 pct
Brent crude : $109.32; -0.08 pct
LME 3-month copper : $6,930.00; +1.24 pct
ANALYST RESEARCH HIGHLIGHTS
Acadian Timber : Raymond James starts with outperform rating; target price C$16.50
Canadian Pacific Railway : Morgan Stanley ups target to C$198 from C$192; rating overweight
Pengrowth Energy : Raymond James resumes coverage with outperform; target C$8
U.S. ECONOMIC DATA DUE ON MONDAY
0945 Markit manufacturing PMI Final for May: Prior +56.2
1000 Construction spending mm for April: Expected +0.6 pct, prior +0.2 pct
1000 ISM manufacturing PMI for May: Expected +55.5, prior +54.9
1000 ISM manufacturing prices paid for May: Expected +57.0, prior +56.5
1000 ISM manufacturing employment index for May: Expected +55.0, prior +54.7
1000 ISM manufacturing new orders index for May: Prior +55.1
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= $1.09 Canadian) (Reporting by Mononshila Deka in Bangalore; Editing by Ted Kerr)