Aug 4 (Reuters) - Canada’s main stock index was set to open higher on Thursday after the Bank of England cut interest rates for the first time since 2009 in a bid to support economic growth.
The central bank lowered its main lending rate to a record-low 0.25 percent from 0.5 percent and said it would buy 60 billion pounds of government debt to ease the blow from Britain’s June 23 vote to leave the European Union.
September futures on the S&P TSX index were up 0.15 percent at 7:20 a.m. ET.
Canada’s main stock index gained on Wednesday as shares in energy companies benefited from a rebound in oil prices, offsetting losses among gold miners and other materials stocks.
No major Canadian data is scheduled for release on Thursday.
Dow Jones Industrial Average e-mini futures were up 0.31 percent at 7:20 a.m. ET, while S&P 500 e-mini futures were up 0.29 percent and Nasdaq 100 e-mini futures were down 0.15 percent.
Oil and natural gas producer Canadian Natural Resources Ltd reported a smaller quarterly loss as lower expenses helped offset a slump in crude prices.
Insurer Manulife Financial Corp posted second-quarter results which were below market expectations and warned of a charge of up to C$500 million ($382 million) in the third quarter.
Retailer Canadian Tire Corp Ltd’s quarterly profit rose 8.1 percent, helped by higher sales of sports gear and apparel.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1360.8; +0.35 percent
US crude : $40.66; -0.42 percent
Brent crude : $42.76; -0.79 percent
LME 3-month copper : $4814; -1.25 percent
Gold futures : $1349.5; -0.49 percent
US crude : $40.6; -0.56 percent
Brent crude : $42.7; -0.93 percent
LME 3-month copper : $4809.5; -1.34 percent
ANALYST RESEARCH HIGHLIGHTS
Aecon Group Inc : Desjardins raises price target to C$21 from C$20; rating “buy”
Husky Energy Inc : Barclays raises price target to C$23 from C$22; rating “overweight”
IAMGOLD Corp : Canaccord Genuity raises price target to C$7.50 from C$6.50; rating “hold”
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Initial jobless claims: Expected 265,000; Prior 266,000
0830 Jobless claims 4-week average: Prior 256,500
0830 Continued jobless claims: Expected 2.130 mln; Prior 2.139 mln
1000 Manufacturers New Orders, Durable goods excluding defense, R mm for Jun: Prior -3.9 pct
1000 Durable goods, R mm for Jun: Prior -4.0 pct
1000 Factory orders mm for Jun: Expected -1.8 pct; Prior -1.0 pct
1000 Durable goods excluding transportation R mm for Jun: Prior -0.5 pct
1000 Nondefense capital goods excluding aircraft R mm for Jun: Prior 0.2 pct
1000 Total manufacturing excluding transportation mm for Jun: 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$1.31) (Reporting by Nikhil Kumar in Bengaluru; Editing by Maju Samuel)
Our Standards: The Thomson Reuters Trust Principles.