June 27, 2014 / 11:27 AM / 3 years ago

CANADA STOCKS-Futures indicate lower start, data awaited

June 27 (Reuters) - Canadian stocks looked set to open lower on Friday as weak U.S. economic data and concerns about Iraq and Ukraine dampened investors’ risk appetite.

June futures on the S&P TSX index <0#SXF:> were down 0.09 percent at 0715 ET.

The index closed modestly higher on Thursday, reversing earlier weakness on the back of higher energy and financial shares and a turnaround in mining stocks.

May data for Canadian producer prices is due at 0830 ET.

Dow Jones Industrial Average e-mini futures were down 0.14 percent at 0715 ET, while S&P 500 e-mini futures were down 0.22 percent. Nasdaq 100 e-mini futures were down 0.14 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Encana Corp, Canada’s largest natural gas producer, said it would sell its Bighorn gas properties in Alberta to Apollo Global Management LLC for about C$2 billion.

Canadian stocks will probably set record highs this year and next, lifted by strength in the energy sector and an improving global outlook, a Reuters poll showed on Thursday.

Global mining company Rio Tinto and Russian fertiliser producer Acron OAO are moving ahead with the development of the Albany potash prospect in Saskatchewan, Canada, Acron said.

COMMODITIES AT 0715 ET

Gold futures : $1,317.4; +0.03 pct

US crude : $105.97; +0.12 pct

Brent crude : $113.44; +0.2 pct

LME 3-month copper : $6,954; -0.01 pct

ANALYST RESEARCH HIGHLIGHTS

Shaw Communications : Canaccord Genuity raises to hold from sell

Empire Company Ltd : CIBC raises to sector outperformer from sector performer

Fortuna Silver Mines Inc : Raymond James cuts to outperform from strong buy

Perpetual Energy : CIBC raises to sector outperformer-spec. from sector performer

U.S. ECONOMIC DATA DUE ON FRIDAY

0955 Univ Mich sentiment final for June: Expected +82.0, prior +81.2

0955 Univ Mich conditions final for June: Expected +96.0, prior +95.4

0955 Univ Mich expectations final for June: Expected +72.8, prior +72.2

0955 Univ Mich 1Yr inf final for June: Prior +3.0 pct

0955 Univ Mich 5-Yr inf final for June: Prior +2.9 pct

1030 ECRI weekly index: Prior +135.4

1030 ECRI weekly annualized: Prior +4.4 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= $1.07 Canadian Reporting by Mononshila Deka in Bangalore; Editing by Saumyadeb Chakrabarty

Our Standards:The Thomson Reuters Trust Principles.
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