September 6, 2018 / 11:55 AM / 15 days ago

CANADA STOCKS-TSX futures flat on trade uncertainties

Sept 6 (Reuters) - Futures on Canada’s main stock index were flat as investors await the outcome of talks between the United States and Canada to renew the North American Free Trade Agreement.

Canadian Foreign Minister Chrystia Freeland said on Wednesday the two countries made progress in negotiations and officials would work together to flesh out areas for further discussion.

Beijing has warned of retaliation if Washington implements any new tariff measures. Recent reports have said U.S. President Donald Trump is ready to move ahead with tariffs on $200 billion in Chinese imports.

September futures on the S&P/TSX index were down 0.03 percent at 7:00 a.m. ET.

July’s building permits data is due at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX fell 23.73 points, or 0.15 percent, to 16,137.57 on Wednesday.

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 down 0.04 percent and Nasdaq 100 e-mini futures were down 0.1 percent.

TOP STORIES

Creditors of Hudson’s Bay Co have agreed to a merger of the Canadian retailer’s German department store chain Kaufhof with rival Karstadt, owned by Austria’s Signa Holding, German daily Sueddeutsche Zeitung reported.

Walmart Inc’s Canadian unit said it would buy 30 more of Tesla Inc’s all-electric 18-wheeler semi-trucks as part of a plan to have 100 percent of its fleet use alternative power by 2028.

Alimentation Couche-Tard Inc reported a quarterly profit that topped analysts’ estimates on Wednesday as the world’s second-biggest convenience store operator benefited from higher fuel sales.

ANALYST RESEARCH HIGHLIGHTS

Ecobalt Solutions: Canaccord Genuity cuts price target to C$0.90 from C$1.80

Semafo Inc: CIBC cuts target price to C$4 from C$4.25

WSP Global Inc: National Bank of Canada raises to outperform from sector perform

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,205.8; +0.81 pct

US crude: $68.83; +0.16 pct

Brent crude: $77.52; +0.32 pct

U.S. ECONOMIC DATA DUE ON THURSDAY

0730 Challenger layoffs for Aug: Prior 27,122

0815 ADP national employment for Aug: Expected 190,000; Prior 219,000

0830 Initial jobless claims: Expected 214000; Prior 213,000

0830 Jobless claims 4-week average: Prior 212,250

0830 Continued jobless claims for Aug: Expected 1.710 mln; Prior 1.708 mln

0830 Labor costs revised for Q2: Expected -0.9 pct; Prior -0.9 pct

0830 Productivity revised for Q2: Expected 3.0 pct; Prior 2.9 pct

0945 Markit Composite Final PMI for Aug: Prior 55.0

0945 Markit Services PMI Final for Aug: Prior 55.2

1000 Durables ex-defense, R MM for Jul: Prior -1.0 pct

1000 Durable goods, R MM for Jul: Prior -1.7 pct

1000 Factory orders MM for Jul: Expected -0.6 pct; Prior 0.7 pct

1000 Durables ex-transport R MM for Jul: Prior 0.2 pct

1000 Nondefense cap ex-air R MM for Jul: Prior 1.4 pct

1000 Factory ex-transport MM for Jul: Prior 0.4 pct

1000 ISM N-Manufacturing PMI for Aug: Expected 56.8; Prior 55.7

1000 ISM N-Manufacturing Business Act for Aug: Expected 56.9; Prior 56.5

1000 ISM N-Manufacturing Employment Index for Aug: Prior 56.1

1000 ISM N-Manufacturing New Orders Index for Aug: Prior 57.0

1000 ISM N-Manufacturing Price Paid Index for Aug: Prior 63.4

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$1.32) (Reporting By Nachiket Tekawade in Bengaluru; Editing by Shounak Dasgupta)

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