Jan 8 (Reuters) - Stock futures pointed to a higher start for Canada’s main stock index on Thursday tracking global markets, as a confident sounding U.S. Federal Reserve added to hopes of aggressive new stimulus this month from the European Central Bank.
March futures on the S&P TSX index were up 0.44 percent at 7.15 a.m. ET.
Data on new housing price index for November is due at 8.30 a.m. ET.
Canada’s main stock index advanced moderately on Wednesday, helped by positive U.S. economic data and a pause in the rout of crude prices, which lifted market sentiment if not the shares of oil companies.
Dow Jones Industrial Average e-mini futures were up 1.06 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were up 1.04 percent and Nasdaq 100 e-mini futures were up 1.04 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Goldman Sachs Group Inc led investment banks advising on mergers and acquisitions in Canada in 2014, a year in which big international oil and gas deals were hot before oil prices turned cold.
ARC Resources Ltd said on Wednesday it would cut an already reduced 2015 capital spending budget by nearly 15 percent as it joins other Canadian petroleum producers in tightening purse strings to cope with a 50 percent drop in oil prices since June.
COMMODITIES AT 7.15 a.m. ET
Gold futures : $1,206.30; -0.4 pct
US crude : $48.92; +0.5 pct
Brent crude : $51.43; +0.5 pct
LME 3-month copper : $6,124.25; +0.2 pct
ANALYST RESEARCH HIGHLIGHTS
Morguard Corp : RBC raises price target to C$175 from C$165
Surge Energy Inc : BMO cuts price target to C$3.75 from C$4
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Initial Jobless Claims: Expected 290,000; Prior 298,000
0830 Jobless Claims 4-Week Average: Prior 290,750
0830 Continued Jobless Claims: Expected 2.368 mln; Prior 2.353 mln
1500 Consumer Credit for Nov: Expected 15.00 bln; Prior 13.23 bln
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$1.18) (Reporting by Samarendra Sahoo in Bengaluru; Editing by Kirti Pandey)
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