Jan 15 (Reuters) - Canadian stocks were set to open lower on Thursday as stock futures fell, tracking global markets as oil prices slipped further.
March futures on the S&P TSX index were down 0.48 percent at 7.15 a.m. ET.
Canada’s main stock index dropped to its lowest in four weeks on Wednesday after the World Bank cut its global growth forecasts.
Global market were also under pressure after the Swiss National Bank (SNB) scrapped a three-year-old cap on the franc, sending the safe-haven currency soaring and stoking fears about the export-reliant Swiss economy.
Dow Jones Industrial Average e-mini futures were down 0.07 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were down 0.17 percent and Nasdaq 100 e-mini futures were down 0.0.29 percent.
No economy data is due on Thursday.
Samsung Electronics recently offered to buy BlackBerry Ltd for as much as $7.5 billion, Reuters reported citing a person familiar with the matter and documents. Both BlackBerry and Samsung denied that they were in talks. BlackBerry’s U.S. shares, which rose 30 percent after the report on Wednesday, were down 15 percent premarket.
Canadian oil and natural gas producer Pacific Rubiales Energy Corp denied market rumors regarding its debt obligations that briefly halted trading and sent shares to a five-year low on Wednesday.
COMMODITIES AT 7.15 a.m. ET
Gold futures : $1,253.5; +1.55 pct
US crude : $48.78; +0.62 pct
Brent crude : $48.45; -0.49 pct
LME 3-month copper : $5,652.5; +1.88 pct
ANALYST RESEARCH HIGHLIGHTS
Lundin Mining Corp : Barclays cuts price target to C$6 from C$8; rating “overweight”
Agrium Inc : Goldman Sachs raises target price to C$118 from C$109; rating “neutral”
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Initial jobless claims: Expected 291,000; Prior 294,000
0830 Continued jobless claims: Expected 2.400 mln; Prior 2.452 mln
0830 NY Fed manufacturing for Jan: Expected 5.0; Prior -3.58
0830 PPI final demand mm for Dec: Expected 0.4 pct; Prior -0.2 pct
0830 PPI ex-food/energy mm for Dec: Expected 0.1 pct; Prior 0.0 pct
0830 PPI final demand yy for Dec: Expected 1.0 pct; Prior 1.4 pct
0830 PPI ex-food/energy yy for Dec: Expected 1.9 pct; Prior 1.8 pct
1000 Philly Fed Business Index for Jan: Expected 19.9; Prior 24.5
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$1.20 Reporting by Abhinav Kaul in Bengaluru; Editing by Saumyadeb Chakrabarty
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