CANADA STOCKS-TSX poised to open lower after high inflation data

Fri Jun 20, 2014 8:48am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Updates Canadian economic data)

June 20 (Reuters) - Canadian stocks looked set to open lower on the last trading day of the week after data showed costlier energy unexpectedly pushed the country's annual inflation rate to a 27-month high.

June futures on the S&P TSX index <0#SXF:> were down 0.05 percent at 0845 ET.

Annual inflation rate rose to 2.3 percent in May from 2.0 percent in April, while a rise in core inflation also defied the Bank of Canada's low-inflation forecasts.

Retail sales beat expectations in April, rising 1.1 percent from March in the strongest gain in 11 months to an all-time record C$41.62 billion, according to Statistics Canada data.

The index notched its highest ever close on Thursday as gains in BlackBerry, following its quarterly results, and in gold mining shares helped overcome weakness in the broader market.

Dow Jones Industrial Average e-mini futures were up 0.11 percent at 0845 ET, while S&P 500 e-mini futures were up 0.15 percent. Nasdaq 100 e-mini futures were up 0.12 percent.

(Morning News Call newsletter; The Day Ahead newsletter   Continued...