April 15 (Reuters) - Stock futures pointed to a lower start for Canada’s main stock index on Friday as crude futures fell more than 2 percent ahead of an oil producers’ meeting in Doha to rein in a global glut.
June futures on the S&P TSX index were down 0.15 percent at 7:15 a.m. ET.
Data on manufacturing sales in February is due at 8:30 a.m. ET.
Canadian manufacturing sales are expected to have declined by 1.5 percent in the month, giving up some of January’s strong gain.
Canada’s main stock index fell slightly on Thursday as lower commodity prices weighed on energy and mining stocks, while financial sector stocks rose.
Dow Jones Industrial Average e-mini futures were down 0.15 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.20 percent and Nasdaq 100 e-mini futures were down 0.20 percent.
Mitel Networks Corp said on Friday it would buy fellow voice and telephony gear maker Polycom Inc for about $1.96 billion in cash and stock, satisfying a demand from hedge fund Elliott Management.
Valeant Pharmaceuticals International Inc has brought in investment banks to review its options amid interest from buyout firms and other companies in a number of its businesses, according to people familiar with the matter.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,227.80; +0.23 pct
US crude : $40.56; -2.29 pct
Brent crude : $42.80; -2.37 pct
LME 3-month copper : $4,806.00; -0.52 pct
ANALYST RESEARCH HIGHLIGHTS
Canadian Natural Resources Ltd : CIBC raises price target to C$47 from C$40
Husky Energy Inc : CIBC raises price target to C$19 from C$16
Shaw Communications Inc : CIBC cuts price target to C$27 from C$29
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 NY Fed Manufacturing Index for Apr: Expected 2.21; Prior 0.62
0915 Industrial output mm for Mar: Expected -0.1 pct; Prior -0.5 pct
0915 Capacity Utilization mm for Mar: Expected 75.4 pct; Prior 75.4 pct
0915 Manufacturing output mm for Mar: Expected 0.1 pct; Prior 0.1 pct
1000 U Mich Sentiment Index Preliminary for Apr: Expected 92.0; Prior 91.0
1000 U Mich Conditions Index Preliminary for Apr: Expected 106.0; Prior 105.6
1000 U Mich Expectations Index Preliminary for Apr: Expected 82.5; Prior 81.5
1000 U Mich 1-year Inflation preliminary for Apr: Prior 2.7 pct
1000 U Mich 5-year Inflation preliminary for Apr: Prior 2.7 pct
1030 ECRI Weekly Index: Prior 133.2
1030 ECRI weekly annualized: Prior 1.6 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$1.28) (Reporting by Riniki Sanyal in Bengaluru; Editing by Kirti Pandey)
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