June 30, 2014 / 12:50 PM / in 3 years

CANADA STOCKS-Futures indicate lower open, GDP misses forecasts

3 Min Read

(Updates Canadian economic data)

June 30 (Reuters) - Canadian stocks looked set to open lower on Monday, after data showed the country's GDP for April missed forecasts.

June futures on the S&P TSX index <0#SXF:> were down 0.02 percent at 0845 ET.

Lower oil and gas production caused the country's economic growth to come in lower than expected at 0.1 percent in April, according to Statistics Canada data released, matching March's rise but below the 0.2 percent forecast.

The index rose on Friday as gains in shares of banks and insurers helped overcome concerns about sluggish economic data.

Dow Jones Industrial Average e-mini futures were down 0.04 percent at 0845 ET, while S&P 500 e-mini futures were down 0.03 percent. Nasdaq 100 e-mini futures were up 0.07 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

Top Stories

Thomson Reuters is revising its foreign exchange trading rules, the company said, following consultations with market participants.

Wal-Mart Stores Inc violated Quebec's labor code when it closed a store in the province that had become one of the first in Canada to successfully unionize, the Supreme Court of Canada ruled on Friday.

Saudi Arabia's Mobily has signed a $200 million vendor financing agreement with Canada's export credit agency to buy equipment from Alcatel Lucent, the kingdom's number two telecommunications operator said on Sunday.

Commodities at 0845 Et

Gold futures : $1,314.7; -0.4 pct

US crude : $105.18; -0.53 pct

Brent crude : $112.39; -0.80 pct

LME 3-month copper : $6,947.75; +0.04 pct

Analyst Research Highlights

Canadian National Railway : Barclays raises rating to overweight

Lucara Diamond : Finncap raises target price to C$2.29 from C$1.72

TransCanada Corp : Citigroup raises to buy from neutral

u.s. Economic Data Due on Monday

0945 Chicago PMI for June: Expected +63.0, prior +65.5

1000 Pending homes index for May: Prior +97.8

1000 Pending sales change mm for May: Expected +1.5 pct, prior +0.4 pct

1030 Dallas Fed manufacturing business index for June: Prior +8.00

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= $1.07 Canadian)

Canada markets will remain closed on Tuesday, July 1, in observance of Canada Day. Reporting by Mononshila Deka in Bangalore; Editing by Saumyadeb Chakrabarty

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