Aug 12 (Reuters) - Futures pointed to a lower start for Canada’s main stock index on Friday as oil prices weakened after data showed that China’s economic activity slowed in July.
Data showed that China’s investment grew at its slowest pace in more than 16 years in the first seven months of the year as the world’s second-largest economy grappled with the painful restructuring of its older industrial sectors.
September futures on the S&P TSX index were down 0.06 percent at 7:15 a.m. ET.
Canada’s main stock index rose on Thursday as energy stocks gained from a bounce in oil prices, while drugmaker Valeant Pharmaceuticals International Inc slumped on a report it is the target of a criminal probe.
No major economic data is due on Friday.
Dow Jones Industrial Average e-mini futures were up 0.02 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.01 percent and Nasdaq 100 e-mini futures were up 0.01 percent.
Amaya Inc said Chief Executive David Baazov, who was charged with insider trading by Quebec’s securities regulator, had stepped down on Thursday.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1336.30; -0.46 percent
US crude : $43.32; -0.39 percent
Brent crude : $45.76; -0.61 percent
LME 3-month copper : $4775; -1.51 percent
ANALYST RESEARCH HIGHLIGHTS
Altus Group : Canaccord Genuity raises target price to C$30 from C$28.; rating “buy”
Cineplex Inc : RBC cuts target price to C$51 from C$52; rating “sector perform”
Lundin Mining Corp : Canaccord Genuity raises price target to C$7.50 from C$7.00; rating “buy”
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 PPI final demand yy for Jul: Expected 0.2 pct; Prior 0.3 pct
0830 PPI final demand mm for Jul: Expected 0.1 pct; Prior 0.5 pct
0830 PPI exfood/energy yy for Jul: Expected 1.2 pct; Prior 1.3 pct
0830 PPI exfood/energy mm for Jul: Expected 0.2 pct; Prior 0.4 pct
0830 PPI ex food/energy/transport yy for Jul: Prior 0.9 pct
0830 PPI ex food/energy/transport mm for Jul: Prior 0.3 pct
0830 Retail sales mm for Jul: Expected 0.4 pct; Prior 0.6 pct
0830 Retail sales ex-autos mm for Jul: Expected 0.2 pct; Prior 0.7 pct
0830 Retail ex gas/autos for Jul: Prior 0.7 pct
0830 Retail control for Jul: Expected 0.3 pct; Prior 0.5 pct
1000 Business inventories mm for Jun: Expected 0.1 pct; Prior 0.2 pct
1000 U Mich Sentiment Preliminary for Aug: Expected 91.5; Prior 90.0
1000 U Mich Conditions Preliminary for Aug: Expected 109.0; Prior 109.0
1000 U Mich Expectations Preliminary for Aug: Expected 78.1; Prior 77.8
1000 U Mich 1 year inflation preliminary for Aug: Prior 2.7 pct
1000 U Mich 5-year inflation preliminary for Aug: Prior 2.6 pct
1030 ECRI Weekly Index: Prior 137.6
1030 ECRI weekly annualized: Prior 8.2 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$1.30) (Reporting by Sai Sharanya Khosla in Bengaluru; Editing by Kirti Pandey)
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