(Adds econ data and TransCanada results)
Feb 13 (Reuters) - Canada’s main stock index was poised for a higher start on Friday as the country’s factory sales in December came higher than analysts’ expectations.
March futures on the S&P TSX index were up 0.36 percent at 8.30 a.m. ET.
Canadian factory sales in December rose by a higher-than-expected 1.7 percent from November as a drop in the sale of petroleum and coal products was offset by gains in transportation equipment, machinery and food sales, Statistics Canada data indicated.
Big insurers weighed on Canada’s main stock index on Thursday, but major banks and blue-chip energy companies pushed the market higher as crude oil prices rallied.
Dow Jones Industrial Average e-mini futures were up 0.24 percent at 8.30 a.m. ET on Friday, while S&P 500 e-mini futures were up 0.19 percent and Nasdaq 100 e-mini futures were up 0.21 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
TransCanada Corp, Canada’s second-largest pipeline company, reported a 9 percent rise in quarterly profit, helped by higher earnings from its Canadian pipelines such as Canadian Mainline.
Sun News Network has shut down after searching for a potential buyer for months, Sun Media Corp said.
Canadian mortgage lender Home Capital Group Inc is not being hurt by the oil price collapse and does not have any significant exposure to the Alberta market, its chief executive told Reuters on Thursday.
COMMODITIES AT 8:30 a.m. ET
Gold futures : $1,225.40; +0.43 pct
US crude : $52.55; +2.62 pct
Brent crude : $61.29; +3.39 pct
LME 3-month copper : $5,744.50; +0.08 pct
ANALYST RESEARCH HIGHLIGHTS
Great-West Lifeco : CIBC cuts rating to “sector underperformer”
Mullen Group Ltd : CIBC cuts rating to “sector underperformer” from “sector performer”
Yellow Pages Ltd : Canaccord Genuity cuts target price to C$28 from C$30
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Import prices mm: Actual -2.80 pct; Prior -2.50 pct
0830 Export prices mm: Actual -2.00 pct; Prior -1.20 pct
1000 U Mich Sentiment prelim: Expected +98.10; Prior +98.10
1000 U Mich Conditions prelim: Expected +110.0; Prior +109.30
1000 U Mich Expectations prelim: Expected +92.20; Prior +91.0
1000 U Mich 1-yr inflation prelim: Prior +2.50 pct
1000 U Mich 5-yr inflation prelim: Prior +2.80 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$1.25) (Reporting by Nandi Kaul in Bengaluru; Editing by Savio D’Souza)
Our Standards: The Thomson Reuters Trust Principles.