CANADA STOCKS-TSX poised to open lower as global economic fear persists

Wed Oct 15, 2014 7:38am EDT
 
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Oct 15 (Reuters) - Stock futures pointed to a lower opening
for Canada's main stock index on Wednesday on persistent fear
over the health of the global economic recovery.
    December futures on the S&P TSX index were down 0.35
percent at 0720 ET.
    No major economic events are scheduled for Wednesday
.
    The Toronto Stock Exchange 300 Composite Index hit
an eight-month low on Tuesday, dropping more than 11 percent
from last month's record high, as plunging international oil
prices took domestic energy producers down with them.
 
    Dow Jones Industrial Average e-mini futures were
down 0.50 percent at 0720 ET on Wednesday, S&P 500 e-mini
futures were down 0.71 percent and Nasdaq 100 e-mini
futures were down 0.62 percent. 
    
    (Morning News Call newsletter link.reuters.com/nex49s;
 The Day Ahead newsletter link.reuters.com/mex49s)
    
    TOP STORIES 
    Canada's second-largest pension fund, Caisse de depot et
placement du Quebec, is set to make a big foray into Mexico
following an initial $100 million investment in real estate,
according to two sources familiar with the matter.
 
    Weak growth in Europe and possible deflation there are a
threat to Canada's economic outlook, but the danger is offset to
some extent by what looks like sustainable growth in the United
States, Canadian Finance Minister Joe Oliver said on Tuesday.
 
    
    COMMODITIES AT 0720 ET 
    Gold futures : $1,224.90; -0.72 pct 
    US crude : $79.85; -1.63 pct 
    Brent crude : $84.26; -1.35 pct 
    LME 3-month copper : $6,751.50; -0.71 pct 
    
    ANALYST RESEARCH HIGHLIGHTS 
    Amica Mature Lifestyles Inc : CIBC cuts target to
C$7.75 from C$8; rating "sector performer"
    HudBay Minerals Inc : National bank Financial cuts
target price to C$10.50 from C$12
    Precision Drilling Corp : ISI Group starts with "buy"
rating; price target C$14
    
    U.S. ECONOMIC DATA DUE ON WEDNESDAY
    0830 NY Fed Manufacturing for Oct: Expected 20.50; Prior
27.54
    0830 PPI Final Demand mm for Sep: Expected +0.1 pct; Prior
0.0 pct
    0830 Core PPI Final Demand mm for Sep: Expected +0.1 pct;
Prior +0.1 pct
    0830 PPI Final Demand yy for Sep: Expected +1.8 pct; Prior
+1.8 pct
    0830 Core PPI Final Demand yy for Sep: Expected +1.8 pct;
Prior +1.8 pct
    0830 Retail Sales mm for Sep: Expected -0.1 pct; Prior +0.6
pct
    0830 Retail Sales Ex-Autos mm for Sep: Expected +0.3 pct;
Prior +0.3 pct
    0830 Retail Ex Gas/Autos for Sep: Prior +0.5 pct
    0830 Retail Control for Sep: Expected +0.4 pct; Prior +0.4
pct
    0855 Redbook mm: Prior -0.3 pct
    0855 Redbook yy: Prior +5.4 pct
    1000 Business Inventories mm for Aug: Expected +0.4 pct;
Prior +0.4 pct
    1100 Federal Budget for Sep: Expected $80.9 bln; Prior -$129
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= $1.11 Canadian)

 (Reporting by Benny Thomas in Bangalore)