August 10, 2017 / 11:29 AM / 3 years ago

CANADA STOCKS-TSX futures fall as North Korea tensions brew

Aug 10 (Reuters) - Canada’s benchmark stock index was set to follow global markets lower on Thursday as investors sought refuge in safe-haven assets following exchange of more threats between the United States and North Korea.

North Korea dismissed warnings by U.S. President Donald Trump that it would face “fire and fury” if it threatened the United States and outlined detailed plans for a missile strike near the U.S. Pacific territory of Guam.

September futures on the S&P TSX index were down 0.37 percent at 7:15 a.m. ET.

Canada new housing price index data is due at 8:30 a.m. ET .

On Wednesday, Canada’s main stock index fell as heightened tensions between North Korea and the United States drove investors away from higher-risk assets to safe havens such as gold.

Dow Jones Industrial Average e-mini futures were down 0.28 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.45 percent and Nasdaq 100 e-mini futures were down 0.7 percent.

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Two of Canada’s biggest insurance companies, Manulife Financial Corp and Sun Life, reported second-quarter earnings on Wednesday that beat market estimates, benefiting in part from strong growth in Asia.

Canadian fertilizer maker Agrium Inc, reported quarterly profit and revenue on Wednesday that edged past analysts’ estimates, helped by higher selling prices for potash.

First Quantum Minerals Ltd said on Wednesday it plans to suspend operations at its Ravensthorpe nickel mine in Western Australia at the beginning of next month due to persistently weak nickel prices, sending its shares lower.


Pan American Silver Corp: Credit Suisse raises target price to C$25 from C$23

Stella-Jones Inc: National Bank of Canada raises target price to C$48 from C$42

Tahoe Resources Inc: National Bank of Canada cuts target to C$8.50 from C$9.75


Gold futures: $1280.50; +0.59 percent

US crude: $49.90; +0.69 percent

Brent crude: $53.22; +0.91 percent

LME 3-month copper: $6457.50; +0.04 percent


0830 Initial jobless claims: Expected 240,000; Prior 240,000

0830 Jobless claims 4-week average: Prior 241,750

0830 Continued jobless claims: Expected 1.960 mln; Prior 1.968 mln

0830 PPI final demand yy for Jul: Expected 2.2 pct; Prior 2.0 pct

0830 PPI final demand mm for Jul: Expected 0.1 pct; Prior 0.1 pct

0830 PPI ex food/energy yy for Jul: Expected 2.1 pct; Prior 1.9 pct

0830 PPI ex food/energy mm for Jul: Expected 0.2 pct; Prior 0.1 pct

0830 PPI ex food/energy/transport yy for Jul: Prior 2.0 pct

0830 PPI ex food/energy/transport mm for Jul: Prior 0.2 pct

1400 Federal budget for Jul: Expected -$73.00 bln; Prior -$90.0 bln


TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1= C$1.27) (Reporting by Nishit Kunal in Bengaluru; Editing by Arun Koyyur)

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