Jan 30 (Reuters) - Stock futures pointed to a lower start for Canada’s main stock index on Friday ahead of the release of data on the country’s economic growth in November.
Canada’s gross domestic product is expected to have remained flat in the month from October, according to a Thomson Reuters poll.
The data is due 8.30 a.m. ET.
March futures on the S&P TSX index were down 0.48 percent at 7.15 a.m. ET.
Canada’s main stock index was little changed in choppy trading on Thursday after a decline in energy shares was offset by gains in financials and most other major sectors.
Dow Jones Industrial Average e-mini futures were down 0.73 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were down 0.66 percent and Nasdaq 100 e-mini futures were down 0.30 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Bankrupt drugmaker Dendreon Corp has reached a stalking-horse deal with Canada’s Valeant Pharmaceuticals International Inc to sell the worldwide rights to its cancer vaccine, Provenge, and certain assets for $296 million.
Canadian Imperial Bank of Commerce is trimming its workforce as part of a realignment of its resources to help boost efficiency, the country’s fifth-biggest lender said on Thursday.
Canadian Oil Sands Ltd, the largest-interest owner in the Syncrude oil sands project, slashed its dividend and further reduced 2015 capital spending on Thursday as fourth-quarter profit dropped 87 percent due to lower oil prices.
COMMODITIES AT 7.15 a.m. ET
Gold futures : $1,263.10; +0.68 pct
US crude : $44.93; +0.90 pct
Brent crude : $49.41; +0.57 pct
LME 3-month copper : $5,457.50; +1.16 pct
ANALYST RESEARCH HIGHLIGHTS
Wilan Inc : Paradigm cuts to “hold” from “buy”; cuts price target to C$4
Blackpearl Resources Inc : Paradigm raises to “buy” from “hold”
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 GDP Advance for Q4: Expected 3.0 pct; Prior 5.0 pct
0830 GDP sales advance for Q4: Expected 3.3 pct; Prior 5.0 pct
0830 GDP deflator advance for Q4: Expected 1.0 pct; Prior 1.4 pct
0830 Core PCE prices advance for Q4: Expected 1.2 pct; Prior 1.4 pct
0830 PCE prices advance for Q4: Expected 0.8 pct; Prior 1.2 pct
0830 Employment wages qq for Q4: Prior 0.8 pct
0830 Employment benefits qq for Q4: Prior 0.6 pct
0830 Employment costs for Q4: Expected 0.6 pct; Prior 0.7 pct
0945 Chicago PMI for Jan: Expected 57.5; Prior 58.3
1000 U Mich sentiment final for Jan: Expected 98.2; Prior 98.2
1000 U Mich conditions final for Jan: Expected 108.0; Prior 108.3
1000 U Mich expectations Final for Jan: Expected 91.5; Prior 91.6
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$1.27) (Reporting by Abhinav Kaul in Bengaluru; Editing by Kirti Pandey)
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