(Adds GDP data)
March 31 (Reuters) - Canadian stock futures edged higher on Thursday as data showed the economy expanded more than expected in January on strength in energy, manufacturing and retail sectors.
Data from Statistics Canada showed the economy grew 0.6 percent. Market operators polled by Reuters had forecast a 0.3 percent increase from December.
June futures on the S&P TSX index were up 0.05 percent at 8:50 a.m. ET.
Canada’s main stock index rose on Wednesday as consumer and bank stocks bounced and equity investors broadly cheered a more cautious tone on U.S. interest rate hikes from the Federal Reserve.
Dow Jones Industrial Average e-mini futures were up 0.04 percent at 8:50 a.m. ET, while S&P 500 e-mini futures were up 0.02 percent and Nasdaq 100 e-mini futures were down 0.01 percent.
Cara Operations Ltd, owner of the Swiss Chalet casual dining chain and Harvey’s burger outlets, said on Thursday it would buy St-Hubert BBQ, one of Quebec’s largest casual dining chains, for C$537 million.
COMMODITIES AT 8:50 a.m. ET
Gold futures : $1,237.90; -0.04 pct
US crude : $38.43; +0.93 pct
Brent crude : $39.70; +1.12 pct
LME 3-month copper : $4,846.00; -0.54 pct
ANALYST RESEARCH HIGHLIGHTS
Dollarama Inc : Desjardins raises target price to C$97 from C$91
Detour Gold Corp : Desjardins raises ratings to “buy” from “hold”
U.S. ECONOMIC DATA DUE ON THURSDAY
0945 Chicago PMI for Mar: Expected 50.0; Prior 47.6
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= C$1.29) (Reporting by Riniki Sanyal in Bengaluru; Editing by Don Sebastian)
Our Standards: The Thomson Reuters Trust Principles.