June 4, 2015 / 11:38 AM / 2 years ago

CANADA STOCKS-TSX futures fall on global bond market selloff

3 Min Read

June 4 (Reuters) - Futures pointed to a lower opening for Canada's main stock index on Thursday after global markets slipped due to a jump in the euro and a spike in bond yields.

June futures on the S&P TSX index were down 0.69 percent at 7:20 a.m. ET.

Ivey Purchasing Managers Index is scheduled to be released at 10:00 a.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index closed higher on Wednesday as gains in the financial sector helped offset weakness in the energy industry.

Dow Jones Industrial Average e-mini futures were down 0.57 percent at 7:20 a.m. ET, while S&P 500 e-mini futures were down 0.64 percent and Nasdaq 100 e-mini futures were down 0.88 percent.

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

Top Stories

The world's top 40 mining firms cut costs by a combined 5 percent and capital spending by 20 percent last year as they grappled with a plunge in prices that drove their market value to a 10-year low, auditing firm PricewaterhouseCoopers' annual survey showed.

Striking union workers at a joint BP Plc and Husky Energy refinery in Toledo, Ohio ratified a new contract on Wednesday and are due to return to work on Monday, four months after walking off their jobs, a refinery official said.

Engineering and construction company SNC-Lavalin Group Inc said on Wednesday it is not for sale after a newspaper report citing unnamed sources said it had been "informally" approached by two possible buyers.

COMMODITIES AT 7:20 a.m. ET

Gold futures : $1,182.60; -0.16 pct

US crude : $59.66; +0.02 pct

Brent crude : $63.80; +0.03 pct

LME 3-month copper : $5,952.50; -0.97 pct

Analyst Research Highlights

Air Canada : CIBC raises price target to C$18.50 from C$17.50, rating "sector outperformer"

Brookfield Renewable Energy Partners : CIBC starts with coverage with "sector outperformer" rating

Laurentian Bank of Canada : Barclays raises target price to C$49 from C$48, rating "underweight"

u.s. Economic Data Due on Thursday

0830 Initial jobless claims: Expected 279,000; Prior 282,000

0830 Jobless claims 4-week average: Prior 271,500

0830 Continued jobless claims: Expected 2.208 mln; Prior 2.222 mln

0830 Labor costs revised for Q1: Expected 5.9 pct; Prior 5.0 pct

0830 Productivity revised for Q1: Expected -2.9 pct; Prior -1.9 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$1.24 Reporting by Nikhil Kumar in Bengaluru

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