(Updates economic data)
Feb 19 (Reuters) - Stock futures suggested a lower opening for Canada’s main stock index on Friday as oil prices fell after a record build in U.S. crude inventories last week stoked concerns over persistent global oversupply.
Crude stocks rose by 2.1 million barrels to a peak of 504.1 million, data from the U.S. government’s Energy Information Administration showed on Thursday.
March futures on the S&P TSX index were down 0.47 percent at 8:45 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index gained for a fourth straight session on Thursday, sustaining a six-week high, as gold, consumer and telecom stocks rose.
Dow Jones Industrial Average e-mini futures were down 0.34 percent at 8:45 a.m. ET. S&P 500 e-mini futures were down 0.37 percent and Nasdaq 100 e-mini futures were down 0.36 percent.
Canada’s annual inflation rate accelerated in January to its highest since November 2014, lifted by food prices and the first increase in the cost of gasoline in over a year, Statistics Canada said.
Retail sales fell 2.2 percent in December as unseasonably warm weather cut into seasonal purchases, Statistics Canada said.
Enbridge Inc , Canada’s largest pipeline company, reported a higher-than-expected quarterly profit and said it would defer C$5 billion in capital expenditure planned for this year and the next to 2018 as two pipelines are delayed.
COMMODITIES AT 8:45 a.m. ET
Gold futures : $1,228.30; +0.18 pct
US crude : $29.94; -2.70 pct
Brent crude : $33.51; -2.25 pct
LME 3-month copper : $4,586.50; +0.24 pct
ANALYST RESEARCH HIGHLIGHTS
Bank of Montreal : KBW cuts target price to C$77 from C$79
Canadian Tire Corp : Barclays raises target price to C$143 from C$140; rating “overweight”
OceanaGold Corp : National Bank Financial raises target price to C$3.85 from C$3.65
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 CPI mm, SA for Jan: Actual 0.0 pct; Prior -0.1 pct
0830 CPI yy, NSA for Jan: Actual 1.4 pct; Prior 0.7 pct
0830 Core CPI mm, SA for Jan: Actual 0.3 pct; Prior 0.2 pct
0830 Core CPI yy, NSA for Jan: Actual 2.2 pct; Prior 2.1 pct
0830 CPI Index, NSA for Jan: Actual 236.92; Prior 236.53
0830 Core CPI Index, SA for Jan: Actual 245.23; Prior 244.52
0830 Real Weekly earnings mm for Jan: Actual 0.7 pct; Prior 0.1 pct
1030 ECRI Weekly Index: Prior 130.0
1030 ECRI weekly annualized: Prior -2.6 pct
1130 Cleveland Fed CPI for Jan: Prior 0.1 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$1.38) (Reporting by Nikhil Kumar in Bengaluru; Editing by Savio D’Souza)
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