September 11, 2014 / 11:30 AM / 3 years ago

CANADA STOCKS-TSX set for lower open on weak commodity prices

Sept 11 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Thursday, pulled lower by a sharp drop in commodity prices with gold falling to a near three-month low and Brent crude trading at a 17-month low below $98 a barrel.

September futures on the S&P TSX index <0#SXF:> were down 0.18 percent at 0715 ET.

New housing price index for July is due at 0830 ET.

Canada's main stock index declined on Wednesday, weighed down by worries that U.S. interest rates might rise and by a drop in energy shares spurred by lower oil prices.

Dow Jones Industrial Average e-mini futures were down 0.29 percent at 0715 ET, while S&P 500 e-mini futures were down 0.29 percent. Nasdaq 100 e-mini futures were down 0.23 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Yogawear chain Lululemon Athletica Inc reported on Thursday a better-than-expected quarterly profit, helped by higher online sales.

Empire Co Ltd, the operator of Canadian grocery chain Sobeys Inc, reported a better-than-expected quarterly profit.

Pembina Pipeline Corp, which operates a regional pipeline network in Western Canada, said on Wednesday it will boost the size of a planned C$2 billion expansion, adding an additional 420,000 barrels per day of capacity to its system.

COMMODITIES AT 0715 ET

Gold futures : $1,243.50; Flat

US crude : $90.73; -1.03 percent

Brent crude : $97.04; -1.02 percent

LME 3-month copper : $6,778.75; -1.33 percent

ANALYST RESEARCH HIGHLIGHTS

National Bank of Canada : Credit Suisse cuts rating to "underperform" from "neutral"

Pembina Pipeline Corp : RBC raises target price to C$56 from C$53

Shaw Communications Inc : RBC raises target price to C$27 from C$26

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial Jobless Claims: Expected +300,000 Prior +302,000

0830 Jobless Claims 4-week Average: Prior +302,750

0830 Continued Jobless Claims: Expected +2.480 mln Prior +2.464 mln

1400 Federal Budget for Aug: Expected -$130 bln Prior -$95 bln

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$1.10 Reporting by Samarendra Sahoo in Bangalore; Editing by Sriraj Kalluvila

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