(Adds Canadian and U.S. economic data)
July 31 Canadian stocks looked set to open lower
on Thursday, even as data showed economy grew at a
better-than-expected pace in May.
September futures on the S&P TSX index <0#SXF:> were down
0.32 percent at 0845 ET.
The Canadian economy expanded for the fifth consecutive
month in May, growing 0.4 percent from April, Statistics Canada
The TSX index closed at a record high on Wednesday, boosted
by positive U.S. economic data and comments by the Federal
Reserve on the outlook for monetary policy.
Dow Jones Industrial Average e-mini futures were
down 0.67 percent at 0845 ET, while S&P 500 e-mini futures
were down 0.73 percent. Nasdaq 100 e-mini futures
were down 0.77 percent.
(Morning News Call newsletter link.reuters.com/nex49s;
The Day Ahead newsletter link.reuters.com/mex49s)
Valeant Pharmaceuticals International, embroiled in
a bitter battle to take over Botox-maker Allergan Inc, cut its
full-year profit and revenue forecasts to reflect the sale of
its rights to several skincare products.
Shaw Communications Inc said it would buy
data center services provider ViaWest Inc from Oak Hill Capital
Partners and others in a deal valued at $1.2 billion on an
Goldcorp Inc reported a stronger second-quarter
profit as higher gold and silver sales and lower production
costs offset the impact of lower bullion prices.
Imperial Oil Ltd, Canada's No.2 integrated oil
company, reported higher second-quarter revenue, driven by
increased bitumen prices and production.
Bombardier Inc reported a slightly
higher-than-expected second-quarter profit, boosted by higher
sales of planes and trains.
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.
COMMODITIES AT 0845 ET
Gold futures : $1,294.7; -0.06 pct
US crude : $99.64; -0.63 pct
Brent crude : $106.41; -0.09 pct
LME 3-month copper : $7,139.75; 0.21 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: Actual +302,000, prior +284,000
0830 Jobless claims 4-week average: Actual +297,250, Prior
0830 Continued jobless claims: Actual +2.539 mln, prior
0830 Employment wages qq for Q2: Actual +0.6 pct, Prior +0.3
0830 Employment benefits qq for Q2: Actual +1.0 pct, Prior
0830 Employment costs for Q2: Actual +0.7 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; Editing by Ted