May 22 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Friday, ahead of domestic inflation and retail sales data.
Inflation is expected to have cooled to an annual 1 percent rate in April, while the core measure is seen holding at a firmer 2.4 percent.
Retail sales, to be released at the same time, are expected to have increased by a modest 0.3 percent in March.
Inflation and retail sales data is due at 8:30 a.m. ET .
June futures on the S&P TSX index were up 0.34 percent at 7:20 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index rebounded on Thursday as financial and energy stocks, bolstered by a rally in oil prices, pushed the TSX to its best performance in more than a week.
Dow Jones Industrial Average e-mini futures were up 0.09 percent at 7:20 a.m. ET, while S&P 500 e-mini futures were up 0.02 percent and Nasdaq 100 e-mini futures were up 0.08 percent.
The largest group of shareholders in oil producer Pacific Rubiales Energy Corp is “extremely disappointed” in a C$6.50-per-share takeover bid from Alfa SAB de CV and Harbour Energy Ltd, and will vote against the deal, the investors said on Thursday.
Smartphone maker BlackBerry Ltd said it plans to buy back 12 million shares, sending its stock up nearly 2 percent in extended trading in the United States on Thursday.
Hootsuite, a provider of software to manage social media on a global scale and one of Canada’s most valuable tech startups, hinted on Thursday that it may move up its timeline on an initial public offering in light of the success of fellow Canadian startup Shopify.
COMMODITIES AT 7:20 a.m. ET
Gold futures : $1,211.90; +0.62 pct
US crude : $60.12; -0.99 pct
Brent crude : $65.73; -1.20 pct
LME 3-month copper : $6,213; -0.62 pct
ANALYST RESEARCH HIGHLIGHTS
ATS Automation Tooling Systems Inc : Paradigm Capital raises target price to C$19 from C$14.25; raises rating to “buy” from “hold”
Canam Group Inc : Raymond James raises target price to C$18 from C$16; rating “outperform”
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 CPI mm, SA for Apr: Expected 0.1 pct; Prior 0.2 pct
0830 CPI yy, NSA for Apr: Expected -0.1 pct; Prior -0.1 pct
0830 Core CPI mm, SA for Apr: Expected 0.2 pct; Prior 0.2 pct
0830 Core CPI yy, NSA for Apr: Expected 1.7 pct; Prior 1.8 pct
0830 CPI Index, NSA For Apr: Expected 236.71; Prior 236.12
0830 Core CPI Index, SA For Apr: Prior 240.79
0830 Real weekly earnings mm for Apr: Prior -0.2 pct
1030 ECRI Weekly Index: Prior 134.6
1030 ECRI weekly annualized: Prior 1.2 pct
1130 Cleveland fed CPI for Apr: Prior 0.2 pct
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$1.22 Reporting by Nikhil Kumar in Bengaluru; Editing by Simon Jennings
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