(Updates economic data)
March 6 (Reuters) - Stock futures pointed to a lower open for Canada’s main stock index on Friday after building permits fell much more than expected in January and trade deficit more than doubled.
March futures on the S&P TSX index were down 0.01 percent at 8:30 a.m. ET.
The value of Canadian building permits issued in January fell by a much larger-than-expected 12.9 percent from December, Statistics Canada data indicated on Friday.
Canadian labor productivity fell 0.1 percent in the fourth quarter of 2014 after rising by 0.2 percent in the third quarter, Statistics Canada said on Friday.
Canada posted a larger-than-expected trade deficit of C$2.45 billion ($1.96 billion) in January from a revised C$1.22 billion deficit in December as slumping oil prices dragged down the value of exports, Statistics Canada data indicated.
Canada’s main stock index rose in a broad but shallow rally on Thursday, led by a 5 percent jump in shares of Canadian Natural Resources Ltd after the major oil and gas producer surprised investors with strong quarterly results.
Dow Jones industrial average e-mini futures were down 0.01 percent at 8:30 a.m. ET, while S&P 500 e-mini futures were down 0.05 percent and Nasdaq 100 e-mini futures were up 0.01 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Enbridge Inc, Canada’s largest pipeline operator, said on Thursday it plans to boost the size of two lines carrying crude from the oil sands while shaving C$400 million from their original price tag.
Canada Pension Plan Investment Board said it had paid 1.1 billion pounds to buy Liberty Living, one of Britain’s biggest providers of student accommodation.
COMMODITIES AT 8:30 a.m. ET
Gold futures : $1,183.5; -1.04 pct
US crude : $50.62; -0.28 pct
Brent crude : $60.93; +0.74 pct
LME 3-month copper : $5,777; -0.99 pct
ANALYST RESEARCH HIGHLIGHTS
Baytex Energy Corp : Barclays cuts price target to C$21 from C$23
Canadian Natural Resources : RBC raises target price to C$43 from C$41
Canyon Services Group Inc : RBC cuts target price to C$9 from C$10
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Non-farm payrolls for Feb: Actual +295,000; Prior +257,000
0830 Private payrolls for Feb: Actual +288,000; Prior +267,000
0830 Manufacturing payrolls for Feb: Actual +8,000; Prior +22,000
0830 Government payrolls for Feb: Actual +7,000; Prior -10,000
0830 Unemployment rate for Feb: Actual +5.5 pct; Prior +5.7 pct
0830 Average earnings mm for Feb: Actual +0.1 pct; Prior +0.5 pct
0830 Average workweek hours for Feb: Actual +34.6hrs; Prior +34.6hrs
0830 Labor Force Partic for Feb: Actual 62.8 pct; Prior +62.9 pct
0830 U6 Underemployment for Feb: Actual 11 pct; Prior +11.3 pct
0830 International trade mm for Jan: Actual -$41.8 bln; Prior -$46.6 bln
1500 Consumer credit for Jan: Expected +14.75 bln; Prior +14.75 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$1.26 Reporting by Nandi Kaul in Bengaluru; Editing by Maju Samuel
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