March 3, 2016 / 12:26 PM / in 2 years

CANADA STOCKS-TSX set to open higher as growth concerns ease

March 3 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Thursday as concerns eased about the global outlook for economic growth.

March futures on the S&P TSX index were up 0.30 percent at 7:15 a.m. ET.

Canada’s main stock index rose for a fifth straight session on Wednesday, hitting its highest point this year as gains for materials and energy stocks offset losses for financial and consumer names and railways.

Dow Jones Industrial Average e-mini futures were unchanged at 7:15 a.m. ET. S&P 500 e-mini futures were down 0.01 percent and Nasdaq 100 e-mini futures were up 0.02 percent.

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

TOP STORIES

Canadian Natural Resources Ltd cuts its 2016 capital expenditure on Thursday after it reported an 89 percent fall in quarterly profit, amid a steep decline in crude prices.

Valeant Pharmaceuticals International Inc said it appointed Ari Kellen executive vice president, succeeding Deb Jorn who has resigned, effective immediately.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,244.00; +0.23 pct

US crude : $34.71; +0.14 pct

Brent crude : $36.85; -0.22 pct

LME 3-month copper : $4,828.00; +0.79 pct

ANALYST RESEARCH HIGHLIGHTS

Bank of Montreal : CIBC raises target price to C$79 from C$78

George Weston Ltd : Barclays cuts target to C$123 from C$124; rating “overweight”

K-Bro Linen Inc : National Bank Financial cuts rating to “sector perform” from “outperform”

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims: Expected 271,000; Prior 272,000

0830 Jobless claims 4-week average: Prior 272,000

0830 Continued jobless claims: Expected 2.250 mln; Prior 2.253 mln

0830 Labor costs revised for Q4: Expected 4.7 pct; Prior 4.5 pct

0830 Nonfarm productivity revised for Q4: Expected -3.2 pct; Prior -3.0 pct

0945 Markit Services PMI Final for Feb: Prior 49.8

0945 Markit Composite PMI Final for Feb: Prior 50.1

1000 Durables goods excluding defense revised mm for Jan: Prior 4.5 pct

1000 Durable goods total revised mm for Jan: Prior 4.9 pct

1000 Factory orders mm for Jan: Expected 2.0 pct; Prior -2.9 pct

1000 Durable goods orders excluding transportation revised mm for Jan: Prior 1.8 pct

1000 Non-defense capital orders excluding aircraft revised mm for Jan: Prior 3.9 pct

1000 Factory orders excluding transportation mm for Jan: Prior -0.8 pct

1000 ISM Non-Manufacturing PMI for Feb: Expected 53.2; Prior 53.5

1000 ISM Non-Manufacturing Business Activity for Feb: Expected 54.0; Prior 53.9

1000 ISM Non-Manufacturing Employment Index for Feb: Prior 52.1

1000 ISM Non-Manufacturing New Orders Index for Feb: Prior 56.5

1000 ISM Non-Manufacturing Prices Paid Index for Feb: Prior 46.4

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$1.34) (Reporting by Nikhil Kumar in Bengaluru; Editing by Savio D‘Souza)

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