July 31 Canadian stocks looked set to open lower
on Thursday as investors awaited the country's GDP data for May.
September futures on the S&P TSX index <0#SXF:> were down
0.18 percent at 0715 ET.
GDP numbers are due at 0830 ET. The economy is expected to
grow by 0.3 percent in May, after it came in lower than expected
at 0.1 percent in April.
The TSX index closed at a record high on Wednesday, boosted
by positive U.S. economic data and the Federal Reserve's
commentary on the outlook for monetary policy.
Dow Jones Industrial Average e-mini futures were
down 0.49 percent at 0715 ET, while S&P 500 e-mini futures
were down 0.56 percent. Nasdaq 100 e-mini futures
were down 0.60 percent.
(Morning News Call newsletter link.reuters.com/nex49s;
The Day Ahead newsletter link.reuters.com/mex49s)
Canada's Valeant Pharmaceuticals International Inc,
which is trying to take over Botox-maker Allergan Inc,
said net income rose nearly 12-fold, boosted by strong sales at
its Bausch & Lomb lens business.
China's foreign ministry accused Canada of making
irresponsible accusations lacking any credible evidence after
Canada singled out Chinese hackers for attacking a key computer
network and lodged a protest with Beijing.
Bombardier Inc reported a slightly
higher-than-expected second-quarter profit, boosted by higher
sales of planes and trains.
The German government will not raise any objections to
BlackBerry's planned acquisition of Secusmart,
whose encryption technology protects the devices of government
officials including Angela Merkel, the head of the company said.
COMMODITIES AT 0715 ET
Gold futures : $1,295.5; 0.0 pct
US crude : $99.58; -0.69 pct
Brent crude : $106.25; -0.24 pct
LME 3-month copper : $7,120.00; -0.07 pct
ANALYST RESEARCH HIGHLIGHTS
First Quantum Minerals : RBC cuts to "sector perform"
Trican Well Service : CIBC raises to "sector
performer" from "sector underperformer"
Genworth MI Canada : Canaccord Genuity raises target
to C$42 from C$40.50; rating "hold"
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Initial jobless claims: Expected +301,000, prior
0830 Jobless claims 4-week average: Prior +302,000
0830 continued jobless claims: Expected +2.495 mln, prior
0830 Employment wages qq for Q2: Prior +0.3 pct
0830 Employment benefits qq for Q2: Prior +0.4 pct
0830 Employment costs for Q2: Expected +0.5 pct, prior +0.3
0945 Chicago PMI for July: Expected +63.0, prior +62.6
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)