(Adds U.S. and Canadian economic data)
Aug 6 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Wednesday on worries of an escalation of the conflict in Ukraine.
September futures on the S&P TSX index <0#SXF:> were down 0.06 percent at 0845 ET.
Canada’s trade surplus soared unexpectedly to a 2-1/2 year high of C$1.86 billion in June, boosted by record exports and falling imports, Statistics Canada data indicated.
Meanwhile, the U.S. trade deficit narrowed more than expected in June as petroleum imports dropped to a 3-1/2 year low, suggesting that trade was less of a drag on second-quarter economic growth than initially thought.
The TSX index declined on Tuesday as sluggish economic data from China and renewed geopolitical tensions in Ukraine weighed on the market.
Dow Jones Industrial Average e-mini futures were down 0.26 percent at 0845 ET, while S&P 500 e-mini futures were down 0.25 percent. Nasdaq 100 e-mini futures were down 0.44 percent.
China’s decision to investigate two Canadians for suspected spying highlights a sharp and unexpected deterioration in bilateral ties just months ahead of a trip by Canada’s Prime Minister Stephen Harper to Beijing.
Tim Hortons Inc , the coffee and doughnut chain, posted a bigger-than-expected rise in quarterly profit and said full-year profit may top its own forecast as customers spent more on every visit.
Oil sands producer Athabasca Oil Corp reported a bigger quarterly loss as it set aside C$49 million to settle some claims by PetroChina Co Ltd’s Phoenix Energy Holdings Ltd.
COMMODITIES AT 0845 ET
Gold futures : $1,298.6; +1.13 pct
US crude : $97.65; +0.28 pct
Brent crude : $105.00; +0.37 pct
LME 3-month copper : $6,959.25; -1.36 pct
ANALYST RESEARCH HIGHLIGHTS
TMX Group : National Bank Financial raises target to C$63 from C$60; rating “sector perform”
Avigilon Corp : CIBC cuts target to C$45 from C$50; rating “sector outperformer”
Luna Gold Corp : Canaccord Genuity, National Bank Financial downgrade the stock
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 International trade mm for June: Actual -$41.54 bln, prior -$44.4 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= $1.10 Canadian Reporting by Mononshila Deka in Bangalore; Editing by Saumyadeb Chakrabarty
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