October 17, 2014 / 11:40 AM / in 3 years

CANADA STOCKS-TSX poised to open higher ahead of inflation data

Oct 16 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Friday, with December futures on the S&P TSX index up 1.04 percent at 0720 ET.

Inflation data is due at 0830 ET.

The Toronto Stock Exchange 300 Composite Index jumped on Thursday as positive U.S. economic data helped ease concerns about global growth, boosting shares in most major sectors.

Dow Jones Industrial Average e-mini futures were up 1.13 percent at 0720 ET on Friday, S&P 500 e-mini futures were up 1.36 percent and Nasdaq 100 e-mini futures were up 1.46 percent.

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

TOP STORIES

Canadian factory sales fell by a greater-than-expected 3.3 percent in August from July’s record level, marking the first fall of the year and the steepest drop since May 2009, according to Statistics Canada data on Thursday.

Billionaire investor William Ackman turned up the heat on Allergan Inc. on Thursday when he accused the Botox maker’s board of misleading investors to fend off a hostile takeover bid from Valeant Pharmaceuticals Inc.

COMMODITIES AT 0720 ET

Gold futures : $1,236.50; -0.34 pct

US crude : $84.01; +1.60 pct

Brent crude : $86.94; +1.31 pct

LME 3-month copper : $6,593.50; +0.63 pct

ANALYST RESEARCH HIGHLIGHTS

Calfrac Well Services Ltd : Cowen raises rating to “outperform” from “market perform”

Laurentian Bank of Canada : Barclays raises rating to “equal weight” from “underweight”

Trican Well Service Ltd : Cowen raises rating to “outperform” from “market perform”

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Housing Starts Number mm for Sep: Expected 1.004 mln; Prior 0.956 mln

0830 House Starts mm Change for Sep: Prior -14.4 pct

0830 Building Permits Number for Sep: Expected 1.029 mln; Prior 1.003 mln

0830 Build Permits Change mm for Sep: Prior -5.1 pct

0955 U Mich Sentiment Prelim for Oct: Expected 84.1; Prior 84.6

0955 U Mich Conditions Prelim for Oct: Expected 98.0; Prior 98.9

0955 U Mich Expectations Prelim for Oct: Expected 74.4; Prior 75.4

0955 U Mich 1Yr Inf Prelim for Oct: Prior +3.0 pct

09:55 U Mich 5-Yr Inf Prelim for Oct: Prior +2.8 pct

1030 ECRI Weekly Index: Prior 134.2

1030 ECRI Weekly Annualized: Prior +1.6 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= $1.12 Canadian Reporting by Benny Thomas in Bangalore

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