Aug 11 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Friday as the escalating war of words between the United States and North Korea drove investors toward the yen, Swiss franc and gold.
U.S. President Donald Trump warned North Korea again on Thursday not to strike Guam or U.S. allies, saying his earlier threat to unleash “fire and fury” on Pyongyang if it launched an attack may not have been tough enough.
September futures on the S&P TSX index were down 0.23 percent at 7:15 a.m. ET.
Canada’s benchmark stock index hit its lowest close in a month on Thursday as oil prices fell and investors sought refuge in safe-haven assets amid rising tensions between the United States and North Korea.
Dow Jones Industrial Average e-mini futures were down 0.13 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.22 percent and Nasdaq 100 e-mini futures were down 0.32 percent.
Telus Corp, one of Canada’s biggest telecom companies, reported a smaller-than-expected profit, as higher costs and weak growth in its wireline unit offset gains from its national wireless business.
Canadian auto parts maker Magna International Inc’s, reported better-than-expected quarterly revenue and profit, helped by higher demand, and raised its full-year sales forecast.
Manulife Financial Corp, Canada’s biggest life insurer, on Thursday played down reports that it is exploring an initial public offering of U.S. unit, John Hancock.
ANALYST RESEARCH HIGHLIGHTS
Aimia Inc: CIBC raises rating to “neutral” from “underperformer”
Computer Modelling Group Ltd: Canaccord Genuity raises rating to “hold” from “sell”
Medical Facilities Corp: Canaccord Genuity raises rating to “buy” from “hold”
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1287.5; +0.3 percent
US crude: $48.33; -0.54 percent
Brent crude: $51.71; -0.37 percent
LME 3-month copper: $6383; -0.62 percent
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Core CPI mm, SA for Jul: Expected 0.2 pct; Prior 0.1 pct
0830 Core CPI yy, NSA for Jul: Expected 1.7 pct; Prior 1.7 pct
0830 CPI Index, NSA for Jul: Expected 244.90; Prior 244.96
0830 Core CPI Index, SA for Jul: Prior 251.63
0830 CPI mm, SA for Jul: Expected 0.2 pct; Prior 0.0 pct
0830 CPI yy, NSA for Jul: Expected 1.8 pct; Prior 1.6 pct
0830 Real weekly earnings mm for Jul: Prior 0.5 pct
1030 ECRI Weekly Index: Prior 144.4
1030 ECRI weekly annualized : Prior 2.8 pct
1100 Cleveland fed CPI for Jul: Prior 0.1 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$1.27) (Reporting by Nishit Kunal in Bengaluru)
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