August 11, 2016 / 11:37 AM / a year ago

CANADA STOCKS-Futures higher ahead of U.S. jobless claims data

Aug 11 (Reuters) - Futures pointed to a slightly higher start for Canada’s main stock index on Thursday ahead of the release of weekly data on U.S. jobless claims.

The number of Americans applying for unemployment benefits is expected to have slipped by 4,000 to 265,000 last week, continuing a trend of being below the 300,000 mark for the 75th consecutive week. The data is due at 8:30 a.m. ET.

September futures on the S&P TSX index were up 0.16 percent at 7:15 a.m. ET.

Canadian housing price data for June is also due at 8:30 a.m. ET

Canada’s main stock index on Wednesday broke a five-day winning streak that had lifted it to a 13-month high, with heavyweight energy and financial stocks leading a broad pullback as oil prices fell.

Dow Jones industrial average e-mini futures were up 0.32 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.26 percent and Nasdaq 100 e-mini futures were up 0.31 percent.

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

TOP STORIES

U.S. prosecutors have opened a criminal investigation into Valeant Pharmaceuticals International Inc over whether it hid from insurers its relationship with a specialty pharmacy that helped boost its drug sales, the Wall Street Journal reported on Wednesday.

Canadian insurer Sun Life Financial Inc reported on Wednesday a bigger-than-expected drop in underlying profit for the second quarter.

U.S. Steel Canada rejected on Wednesday a buyout offer from Ontario Steel Investments, a group that includes shareholders of Essar Global, saying it was not considering further proposals by Essar, which had been eliminated from the sale process.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,342.40; -0.14 percent

US crude : $41.69; -0.05 percent

Brent crude : $44.18; +0.3 percent

LME 3-month copper : $4,830; +0.19 percent

ANALYST RESEARCH HIGHLIGHTS

Alamos Gold Inc : Canaccord Genuity cuts price target to C$12.50 from C$14

KP Tissue Inc : Desjardins raises to “buy” from “hold”

Aston Hill Financial : Canaccord Genuity cuts to “speculative buy” from “buy”

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Import prices mm for Jul: Expected -0.3 pct; Prior 0.2 pct

0830 Export prices mm for Jul: Expected 0.0 pct; Prior 0.8 pct

0830 Initial jobless claims: Expected 265,000; Prior 269,000

0830 Jobless claims 4-week average: Prior 260,250

0830 Continued jobless claims: Expected 2.140 mln; Prior 2.138 mln

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$1.30) (Reporting by Nandi Kaul in Bengaluru; Editing by Kirti Pandey)

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