June 9 (Reuters) - Stock futures were little changed for Canada’s main stock index on Friday as investors await key economic data.
Canada is expected to have added 11,000 jobs in May, picking up the pace of employment as the economy recovers from 2015’s oil price shock. The unemployment rate is forecast to edge up to 6.6 percent but that will likely be accompanied by an improvement in the participation rate.
The report is due at 8:30 a.m. ET.
June futures on the S&P TSX index were up 0.02 percent at 7:15 a.m. ET.
Canada’s main stock index gained on Thursday, helped by rises for some of the country’s biggest banking stocks and a sharp jump in Valeant Pharmaceuticals but weighed down by losses for gold miners.
Dow Jones Industrial Average e-mini futures were up 0.07 percent at 7:15 a.m. ET. S&P 500 e-mini futures were up 0.07 percent and Nasdaq 100 e-mini futures were up 0.02 percent.
Oil and gas producer Encana Corp said it would sell its Piceance natural gas assets in northwestern Colorado to privately held Caerus Oil and Gas LLC for $735 million.
Britain’s largest energy supplier, Centrica Plc, said it would sell its 60 percent stake in its Canadian oil and gas exploration and production joint venture to a consortium for about 240 million pounds ($305 million).
Saks Fifth Avenue owner Hudson’s Bay Co said on Thursday it would cut about 2,000 jobs across North America in a major restructuring effort as it reported a bigger-than-expected first-quarter loss.
ANALYST RESEARCH HIGHLIGHTS
Transcontinental Inc: BMO raises target price to C$25 from C$22
Transat AT Inc: TD Securities raises price target to C$7 from C$5
ECN Capital Corp: National Bank of Canada raises price target to C$5 from C$4.75; rating “outperform”
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,274.3; -0.25 pct
US crude: $45.75; +0.24 pct
Brent crude: $47.97; +0.21 pct
LME 3-month copper: $5,783.50; +0.94 pct
U.S. ECONOMIC DATA DUE ON FRIDAY
10:00 Wholesale inventory(y), R mm for April: Expected 0.2 pct; Prior -0.3 pct
10:00 Wholesale sales mm for April: Prior 0.0 pct
10:30 ECRI Weekly Index: Prior 143.7
10:30 ECRI weekly annualized: Prior 4.6 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$1.35) (Reporting by Sai Sharanya Khosla in Bengaluru; Editing by Maju Samuel)
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