CANADA STOCKS- TSX futures hint at flat open ahead of econ data

Thu May 29, 2014 7:31am EDT
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May 29 (Reuters) - Canadian stocks looked set to open flat on Thursday ahead of the release of data on the country's current account deficit in the first quarter.

June futures on the S&P TSX index <0#SXF:> were down 0.01 percent at 0715 ET.

Canada's current account deficit is expected to narrow to C$13.10 billion in the first quarter from C$16.01 billion in the fourth quarter of 2013. The data is due at 0830 ET.

Canada's main stock index dropped on Wednesday due to weakness in Valeant Pharmaceuticals after the drugmaker raised its takeover offer for Allergan Inc and also because of a slide in shares of gold miners as the bullion price fell.

Dow Jones Industrial Average futures were up 0.14 percent at 0715 ET, while S&P 500 futures rose 0.05 percent. Nasdaq 100 futures were up 0.07 percent. (Morning News Call newsletter; The Day Ahead newsletter


Canadian Imperial Bank of Commerce said its second-quarter profit fell by nearly two-thirds, hurt by C$543 million in charges related to its Caribbean banking unit.

The Bank of Nova Scotia said on Wednesday that it planned to sell the majority of its 37 percent stake in asset manager CI Financial via a secondary offering that could raise as much as C$2.62 billion.