March 22 (Reuters) - Futures for Canada’s main stock index traded lower on Friday, as oil prices dropped on concerns over a slowdown in global economic growth.
A contraction in German manufacturing in March, the third straight month, stoked worries prompted by Fed’s dovish turn on Wednesday, leading to broad losses in European stocks.
June futures on the S&P/TSX index were down 0.48 percent at 7:10 a.m. ET.
Consumer Price Index and Retail Sales data are due at 08:30 a.m. ET.
Toronto Stock Exchange S&P/TSX composite index was up 77.03 points, or 0.48 percent, to close at 16,244.59 on Thursday.
Dow Jones Industrial Average e-mini futures were down 0.41 percent at 7:10 a.m. ET, while S&P 500 e-mini futures edged down 0.4 percent and Nasdaq 100 e-mini futures were down 0.37 percent.
Paulson & Co Inc will not support Newmont Mining Corp’s planned $10 billion takeover of rival Goldcorp Inc as the premium offered is unjustified, the investor said in a letter on Thursday.
ANALYST RESEARCH HIGHLIGHTS
Aritzia Inc: Canaccord Genuity raises price target to $23 from C$21
Boyd Group Income Fund: CIBC raises price target to C$161 from C$132
Mosaic Capital Corp: Desjardins raises price target to C$5.25 from C$5
COMMODITIES AT 7:10 a.m. ET
Gold futures: $1,313.2; +0.45 pct
US crude: $59.51; -0.82 pct
Brent crude: $67.15; -1.05 pct
U.S. ECONOMIC DATA DUE ON FRIDAY
0945 Markit Composite Flash PMI for Mar: Prior 55.5
0945 Markit Manufacturing PMI Flash for Mar: Expected 53.6; Prior 53.0
0945 Markit Services PMI Flash for Mar: Expected 56.0; Prior 56.0
1000 Existing home sales for Feb: Expected 5.10 mln; Prior 4.94 mln
1000 Existing home sales percentage change for Feb: Expected 2.2 pct; Prior -1.2 pct
1000 Wholesale inventory (y), R mm for Jan: Expected 0.2 pct
1000 Wholesale sales mm for Jan: Prior -1.00 pct
1400 Federal budget for Feb: Expected -$227.00 bln; Prior $9.00 bln
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$1.34) (Compiled by Avina Ajit in Bengaluru; Editing by James Emmanuel)
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