(Adds economic data and Valeant and TransCanada results)
April 29 (Reuters) - Canada’s main stock index was set to open lower on Friday after data showed that the country’s economy stalled in February as activity in the manufacturing and natural resource sectors slowed.
June futures on the S&P TSX index were up 0.04 percent at 8:45 a.m. ET.
Gross domestic product fell 0.1 percent in the month, as expected, after increasing for four months in a row, data from Statistics Canada showed on Friday.
Producer prices declined for the second month in a row in March as a stronger Canadian dollar helped lower prices of motorized and recreational vehicles, data showed.
Canada’s main stock index edged slightly lower on Thursday as losses for financials and other sectors offset gains for gold miners and Bombardier Inc after the company won a large plane order.
Dow Jones Industrial Average e-mini futures were down 0.28 percent at 8:45 a.m. ET, while S&P 500 e-mini futures were down 0.29 percent and Nasdaq 100 e-mini futures were down 0.43 percent.
Beleaguered Canadian drugmaker Valeant Pharmaceuticals International Inc filed its long-delayed annual report, in which it identified misstatements that would reduce some of its previously reported revenue.
A major CSeries order from Delta Air Lines will likely hold investor attention at Bombardier’s annual meeting on Friday, overshadowing discord between the company’s founding family and disgruntled shareholders.
TransCanada Corp, the country’s No.2 pipeline operator, reported a better-than-expected quarterly profit, helped by higher income from its Bruce nuclear power plant in Ontario.
COMMODITIES AT 8:45 a.m. ET
Gold futures : $1,277.30; +0.93 pct
US crude : $46.39; +0.76 pct
Brent crude : $48.20; +0.10 pct
LME 3-month copper : $5,025.50; +1.69 pct
ANALYST RESEARCH HIGHLIGHTS
Bombardier : CIBC raises target price to C$2.25 from C$1.60
Constellation Software : Barclays cuts target to C$515 from C$565; rating “equal weight”
Loblaw Companies Ltd : Barclays raises target to C$77 from C$75; rating “overweight”
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Personal Consumption Expenditure real mm for Mar: Actual 0.0 pct; Revised 0.3 pct
0830 Personal income mm for Mar: Actual 0.4 pct; Revised 0.1 pct
0830 Consumption, adjusted mm for Mar: Actual 0.1 pct; Revised 0.2 pct
0830 Core PCE price index mm for Mar: Actual 0.1 pct; Revised 0.2 pct
0830 Core PCE price index yy for Mar: Expected 1.6 pct; Prior 1.7 pct
0830 PCE price index mm for Mar: Expected 0.1 pct; Prior -0.1 pct
0830 PCE price index yy for Mar: Actual 0.8 pct; Prior 1.0 pct
0830 Employment wages qq for Q1: Actual 0.7 pct; Prior 0.5 pct
0830 Employment benefits qq for Q1: Actual 0.5 pct; Prior 0.6 pct
0830 Employment costs for Q1: Actual 0.6 pct; Prior 0.5 pct
0945 Chicago PMI for Apr: Expected 53; Prior 53.6
1000 U Mich Consumer Sentiment Index Final for Apr: Expected 90; Prior 89.7
1000 U Mich Conditions Final for Apr: Expected 106.0; Prior 105.4
1000 U Mich Expectations Final for Apr: Expected 80.2; Prior 79.6
1000 U Mich 1 year inflation final for Apr: Prior 2.7 pct
1000 U Mich 5-year inflation final for Apr: Prior 2.5 pct
1300 Dallas fed PCE for Mar: Prior 1.8 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$1.25 Reporting by Nikhil Kumar in Bengaluru; Editing by Anil D’Silva
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