May 3 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Wednesday as investors digested quarterly results from a slew of major companies including Loblaw, CGI and Torstar.
June futures on the S&P TSX index were down 0.17 percent at 7:15 a.m. ET.
Canada’s main stock index rose on Tuesday, helped by gains for several companies whose results exceeded expectations, including e-commerce company Shopify, and by gains for pipeline companies.
Dow Jones Industrial Average e-mini futures were down 0.09 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.16 percent and Nasdaq 100 e-mini futures were down 0.28 percent.
No major economic releases are scheduled in Canada.
Canadian grocery and pharmacy retailer Loblaw Cos Ltd reported a higher-than-expected quarterly profit as the company kept a tight lid on expenses and attracted more customers to its stores with discounts.
Toronto home prices and new listings surged in April from a year earlier while sales fell, the Toronto Real Estate Board said on Wednesday, suggesting the market may be starting to rebalance after new housing rules were put it place amid fears of a bubble in Canada’s largest city.
Canada’s biggest non-bank lender, Home Capital Group Inc , has delayed its first-quarter earnings to after close of market on May 11, the company said in a statement on Tuesday.
ANALYST RESEARCH HIGHLIGHTS
Kinross Gold Corp: CIBC raises rating to “outperform” from “neutral”; price target C$4.75
Source Energy Services: Morgan Stanley starts coverage with “overweight” rating
Westjet Airlines Ltd: CIBC cuts price target to C$24 from C$25
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1252.2; -0.23 percent
US crude: $47.91; +0.52 percent
Brent crude: $50.77; +0.59 percent
LME 3-month copper: $5661.5; -2.42 percent
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0815 ADP national employment for Apr: Expected 175,000; Prior 263,000
0945 Markit Composite Final PMI for Apr: Prior 52.7
0945 Markit Services PMI Final for Apr: Prior 52.5
1000 ISM N-Manufacturing PMI for Apr: Expected 55.8; Prior 55.2
1000 ISM N-Manufacturing Business Activity for Apr: Expected 58.4; Prior 58.9
1000 ISM N-Manufacturing Employment Index for Apr: Prior 51.6
1000 ISM N-Manufacturing New Orders Index for Apr: Prior 58.9
1000 ISM N-Manufacturing Price Paid Index for Apr: Prior 53.5
1400 Fed funds target rate: Expected 0.875 pct; Prior 0.875 pct
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$1.37) (Reporting by Nikhil Kumar; Editing by Saumyadeb Chakrabarty)
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