August 30, 2016 / 11:32 AM / a year ago

CANADA STOCKS-Futures flat as investors await GDP data

3 Min Read

Aug 30 (Reuters) - Stock futures pointed to a flat opening for Canada's main stock index on Tuesday, as investors turn cautious a day before second-quarter GDP data is due.

The data is expected at 8:30 a.m. ET on Wednesday, and is likely to show a contraction of 1.5 percent.

September futures on the S&P TSX index were up 0.02 percent at 7:15 a.m. ET.

Producer prices data for July is due at 8:30 a.m. ET

Canada's main stock index rose on Monday, but by less than its U.S. peers, as investors bet on rate hikes sooner south of the border and lower oil prices weighed on the commodity-rich TSX.

Dow Jones Industrial Average e-mini futures were up 0.01 percent at 7:15 a.m. ET. S&P 500 e-mini futures were down 0.01 percent and Nasdaq 100 e-mini futures were down 0.18 percent.

(Morning News Call newsletter ; The Day Ahead newsletter

Top Stories

Bank of Nova Scotia reported third-quarter earnings that were ahead of market expectations, driven by growth in its domestic and international banking businesses.

Canadian industrial auctioneer Ritchie Bros Auctioneers Inc said on Monday it would buy IronPlanet, a privately held U.S. e-commerce site for used equipment, for about $758.5 million, as it looks to diversify its portfolio.

Twin Butte Energy Ltd debenture holders voted to reject a takeover bid by Hong Kong's privately held Reignwood Resources Holding Pte Ltd on Monday, throwing the cash-strapped Canadian oil and gas producer's financial future into uncertainty.

Analyst Research Highlights

Dollarama Inc : Barclays raises target price to C$105 from C$98; rating "equal weight"

Twin Butte Energy Ltd : Canaccord Genuity cuts to "sell" from "hold"; cuts price target to C$0.00 from C$0.06


Gold futures : $1317.9; -0.36 percent

US crude : $47.26; +0.6 percent

Brent crude : $49.47; +0.43 percent

LME 3-month copper : $4616; +0.02 percent

u.s. Economic Data Due on Tuesday

0855 Redbook mm: Prior -0.4 pct

0855 Redbook yy: Prior 0.2 pct

0900 CaseShiller 20 mm SA for June: Expected -0.1 pct; Prior -0.1 pct

0900 CaseShiller 20 mm NSA for June: Prior 0.9 pct

0900 CaseShiller 20 yy for June: Expected 5.2 pct; Prior 5.2 pct

1000 Consumer Confidence for August: Expected 97.0; Prior 97.3

1030 Texas Service Sector Outlook for August: Prior -1.3

1030 Dallas Fed Services Revenue for August: Prior 10.3

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 Sai Sharanya Khosla in Bengaluru; Editing by Sriraj Kalluvila

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