March 31 (Reuters) - Canadian stock futures were flat on Thursday, ahead of the GDP data on the last trading day of the quarter.
Canada’s economic growth is expected to have picked up by 0.3 percent in January, likely reinforcing expectations that first-quarter growth will exceed the Bank of Canada’s 1 percent forecast.
June futures on the S&P TSX index were down 0.01 percent at 7:55 a.m. ET.
GDP data is due at 8:30 a.m. ET
Canada’s main stock index rose on Wednesday as consumer and bank stocks bounced and equity investors broadly cheered a more cautious tone on U.S. interest rate hikes from the Federal Reserve.
Dow Jones Industrial Average e-mini futures were down 0.07 percent at 7:55 a.m. ET, while S&P 500 e-mini futures were down 0.05 percent and Nasdaq 100 e-mini futures were down 0.02 percent.
Cara Operations Ltd, owner of the Swiss Chalet casual dining chain and Harvey’s burger outlets, said on Thursday it would buy St-Hubert BBQ, one of Quebec’s largest casual dining chains, for C$537 million.
COMMODITIES AT 7:55 a.m. ET
Gold futures : $1,236.20; +0.76 pct
US crude : $38.40; +0.13 pct
Brent crude : $39.65; +1.04 pct
LME 3-month copper : $4,834.00; -0.70 pct
ANALYST RESEARCH HIGHLIGHTS
Dollarama Inc : Desjardins raises target price to C$97 from C$91
Detour Gold Corp : Desjardins raises ratings to “buy” from “hold”
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Initial jobless claims: Expected 265,000; Prior 265,000
0830 Jobless claims 4-week average: Prior 259,750
0830 Continued jobless claims: Expected 2.205 mln; Prior 2.179 mln
0945 Chicago PMI for Mar: Expected 50.0; Prior 47.6
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$1.29) (Reporting by Riniki Sanyal in Bengaluru; Editing by Don Sebastian)
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