May 10 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Wednesday as investors awaited a fresh batch of corporate earnings.
Linamar Corp, Sunopta Inc and Gluskin Sheff + Associates are some of the companies scheduled to report quarterly results later in the day.
June futures on the S&P TSX index were down 0.14 percent at 7:15 a.m. ET.
Canada’s main stock index fell on Tuesday as banks, oil and gas companies pulled the market lower, but losses were modestly tempered by Valeant Pharmaceuticals International and Home Capital Group Inc stocks, which soared as investors cheered news from the companies.
No major Canadian economic releases are scheduled for the day.
Dow Jones Industrial Average e-mini futures were down 0.25 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.18 percent and Nasdaq 100 e-mini futures were down 0.07 percent.
Bombardier Inc faced fresh pension fund opposition to the re-election of its executive chairman and the Quebec government said the plane and train maker should listen to the growing number of institutional shareholders citing governance concerns.
Insurer Sun Life Financial Inc, reported a smaller-than-expected profit on Tuesday, hurt by weak growth in its U.S market.
The Public Sector Pension Investment Board, one of Canada’s largest pension investment managers, said on Wednesday it planned to expand its London operations, hiring staff and boosting investments.
ANALYST RESEARCH HIGHLIGHTS
CCL Industries Inc: CIBC raises target price to C$340 from C$320
Sun Life Financial:National Bank of Canada cuts price target to C$52; rating “outperform”
Western Forest Products Inc: CIBC raises price target to C$2.50 from C$2.25
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1220; +0.47 percent
US crude: $46.41; +1.16 percent
Brent crude: $49.25; +1.07 percent
LME 3-month copper: $5513; +0.02 percent
U.S. ECONOMIC DATA DUE ON WEDNESDAY
08:30 Import prices mm for Apr: Expected 0.2 pct; Prior -0.2 pct
08:30 Export prices mm for Apr: Expected 0.1 pct; Prior 0.2 pct
11:00 TR IPSOS PCSI for May: Prior 60.47
14:00 Federal budget for Apr: Expected -$175.8 bln; Prior -$176.0 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$1.37) (Reporting by Nikhil Kumar in Bengaluru; Editing by Saumyadeb Chakrabarty)
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