July 22, 2016 / 11:32 AM / a year ago

CANADA STOCKS-Futures rise ahead of data on inflation, retail sales

3 Min Read

July 22 (Reuters) - Canada's main stock index futures pointed to a higher start on Friday ahead of the release of data on inflation and retail sales.

Canada's annual inflation rate is expected to have dropped to 1.4 percent in June from 1.5 percent in May, while core inflation rate is seen falling to 2.0 percent from 2.1 percent.

Retail sales are expected to have stayed flat in May after rising 0.9 percent in April.

Statistics Canada is scheduled to release the data at 8:30 a.m. ET.

September futures on the S&P TSX index were up 0.27 percent at 7:15 a.m. ET.

Canada's main stock index rose to an 11-month high on Thursday as mining stocks rallied and strong earnings reports boosted the shares of Rogers Communications Inc and Encana Corp.

Dow Jones Industrial Average e-mini futures were up 0.18 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.21 percent and Nasdaq 100 e-mini futures were up 0.17 percent.

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

Top Stories

Husky Energy Inc, Canada's No. 3 integrated oil company, reported a second-quarter loss compared with a year-earlier profit as production fell due to planned maintenance and the Fort McMurray wildfire in Alberta.

Valeant Pharmaceuticals International Inc said on Friday that U.S. regulators have raised concerns over a new eye drop manufactured at a Bausch + Lomb facility in Florida.


Gold futures : $1,330.70; +0.02 pct

US crude : $44.81; +0.13 pct

Brent crude : $46.35; +0.32 pct

LME 3-month copper : $4,969; -0.14 pct

Analyst Research Highlights

Loblaw Cos Ltd : Barclays raises price target to C$78 from C$77

Rogers Communications Inc : Canaccord Genuity raises price target to C$55 from C$50

Westjet Airlines Ltd : Raymond James raises price target to C$22.25 from C$20.50

u.s. Economic Data Due on Friday

0945 Markit Manufacturing PMI Flash for Jul: Expected 51.6; Prior 51.3

1030 ECRI Weekly Index: Prior 137.0

1030 ECRI weekly annualized: Prior 6.9 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$1.31) (Reporting by Nikhil Kumar in Bengaluru; Editing by Kirti Pandey)

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