April 25, 2014 / 11:25 AM / 3 years ago

CANADA STOCKS-TSX set to open lower as Ukraine crisis intensifies

3 Min Read

April 25 - Stock futures indicated a lower opening for Canada's main stock index on Friday as escalating tensions in Ukraine sapped appetite for risk.

June futures on the S&P TSX index <0#SXF:> were down 0.22 percent at 0715 ET.

No major Canadian economic events are scheduled.

The Toronto Stock Exchange's S&P/TSX composite index rose slightly on Thursday, helped by a gain in shares of Potash Corp after the company's results beat low expectations and by small increases in heavyweight banking stocks.

Dow Jones Industrial Average futures were down 0.20 percent at 0715 ET, while S&P 500 futures were down 0.28 percent and Nasdaq 100 futures were down 0.37 percent.

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

Top Stories

Bank of Canada Governor Stephen Poloz is more hopeful than before about an export recovery but is not straying from his mantra that an interest rate cut is just as possible as a hike because the economic outlook is so uncertain.

Barrick Gold founder and outgoing chairman, Peter Munk, criticized potential takeover target Newmont Mining in an interview with the National Post newspaper, saying the U.S. miner is "not shareholder-friendly."

Canadian business software maker Open Text Corp posted a higher third-quarter profit, helped by an increase in license and customer services revenues.

Commodities at 0715 Et

Gold futures : $1,295; +0.26 pct

US crude : $101.47; -0.46 pct

Brent crude : $109.96; -0.34 pct

LME 3-month copper : $6,739.5; -0.2 pct

Analyst Research Highlights

Canaccord Genuity : RBC raises price target to C$12 from C$7.50

Catamaran Corp : CIBC raises to sector outperformer from sector performer

IMAX Corp : Benchmark cuts target price to $25.73 from $26.27; rating hold

u.s. Economic Data Due on Friday

09:45 Markit Svcs PMI Final for April: Prior 55.3

09:45 Markit Comp Flash PMI for April: Prior 55.80

09:55 Univ Mich Sentiment Final for April: Expected 83.0 Prior 82.6

09:55 Univ Mich Conditions Final for April: Expected 97.2 Prior 97.1

09:55 Univ Mich Expectations Fin for April: Expected 73.7 Prior 73.3

09:55 Univ Mich 1Yr Inflation Fin April: Prior 3.1 pct

09:55 Univ Mich 5-Yr Inflation for April: Prior 3.0 pct

10:30 ECRI Weekly Index: Prior 134.8

10:30 ECRI Weekly Annualized : Prior 3.8 pct

For Canadian Markets News, Click on Codes in Brackets:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

$1= $1.11 Canadian Reporting by Nikhil Kumar in Bangalore

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below