August 4, 2016 / 11:42 AM / a year ago

CANADA STOCKS-Futures rise after BoE cuts rates

Aug 4 (Reuters) - Canada’s main stock index was set to open higher on Thursday after the Bank of England cut interest rates for the first time since 2009 in a bid to support economic growth.

The central bank lowered its main lending rate to a record-low 0.25 percent from 0.5 percent and said it would buy 60 billion pounds of government debt to ease the blow from Britain’s June 23 vote to leave the European Union.

September futures on the S&P TSX index were up 0.15 percent at 7:20 a.m. ET.

Canada’s main stock index gained on Wednesday as shares in energy companies benefited from a rebound in oil prices, offsetting losses among gold miners and other materials stocks.

No major Canadian data is scheduled for release on Thursday.

Dow Jones Industrial Average e-mini futures were up 0.31 percent at 7:20 a.m. ET, while S&P 500 e-mini futures were up 0.29 percent and Nasdaq 100 e-mini futures were down 0.15 percent.

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

TOP STORIES

Oil and natural gas producer Canadian Natural Resources Ltd reported a smaller quarterly loss as lower expenses helped offset a slump in crude prices.

Insurer Manulife Financial Corp posted second-quarter results which were below market expectations and warned of a charge of up to C$500 million ($382 million) in the third quarter.

Retailer Canadian Tire Corp Ltd’s quarterly profit rose 8.1 percent, helped by higher sales of sports gear and apparel.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1360.8; +0.35 percent

US crude : $40.66; -0.42 percent

Brent crude : $42.76; -0.79 percent

LME 3-month copper : $4814; -1.25 percent

Gold futures : $1349.5; -0.49 percent

US crude : $40.6; -0.56 percent

Brent crude : $42.7; -0.93 percent

LME 3-month copper : $4809.5; -1.34 percent

ANALYST RESEARCH HIGHLIGHTS

Aecon Group Inc : Desjardins raises price target to C$21 from C$20; rating “buy”

Husky Energy Inc : Barclays raises price target to C$23 from C$22; rating “overweight”

IAMGOLD Corp : Canaccord Genuity raises price target to C$7.50 from C$6.50; rating “hold”

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims: Expected 265,000; Prior 266,000

0830 Jobless claims 4-week average: Prior 256,500

0830 Continued jobless claims: Expected 2.130 mln; Prior 2.139 mln

1000 Manufacturers New Orders, Durable goods excluding defense, R mm for Jun: Prior -3.9 pct

1000 Durable goods, R mm for Jun: Prior -4.0 pct

1000 Factory orders mm for Jun: Expected -1.8 pct; Prior -1.0 pct

1000 Durable goods excluding transportation R mm for Jun: Prior -0.5 pct

1000 Nondefense capital goods excluding aircraft R mm for Jun: Prior 0.2 pct

1000 Total manufacturing excluding transportation mm for Jun: Prior 0.1 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$1.31) (Reporting by Nikhil Kumar in Bengaluru; Editing by Maju Samuel)

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