August 8, 2019 / 11:38 AM / 4 months ago

CANADA STOCKS-TSX futures point to flat opening

Aug 8 (Reuters) - Futures for Canada’s main stock index were little changed on Thursday, a day after ending a week-long losing streak as calm returned to global markets.

September futures on the S&P/TSX index were up 0.03% at 7:00 a.m. ET.

Canada’s new housing price index data for June is due to be released at 8:30 a.m.

The Toronto Stock Exchange S&P/TSX index rose 115.73 points, or 0.72%, to 16,265.22, on Wednesday.

Dow Jones Industrial Average e-mini futures were up 0.1% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.22% and Nasdaq 100 e-mini futures were up 0.41%.

TOP STORIES

Canada’s Magna International Inc trimmed its sales forecast for the year, as it expects a drop in vehicle production in North America and Europe due to weak global demand and the impact of U.S.-China trade tensions.

Department store and online retailer Canadian Tire Corp Ltd reported lower-than-expected quarterly profit, hurt mainly by lower margins in its petroleum retail business.

TMX Group, Canada’s biggest stock exchange operator, posted quarterly adjusted profit on Wednesday that topped market expectations, as it reined in operating expenses and benefited from strength in its global solutions business.

Canada’s largest insurer insurer Manulife Financial Corp on Wednesday edged past estimates for second-quarter profit, helped by strength in Asia unit, its biggest.

ANALYST RESEARCH HIGHLIGHTS

Argonaut Gold: National Bank of Canada raises target price to C$3.90 from C$3.75

Bonterra Energy Corp: CIBC maintains target price of C$7

TMX Group Ltd: RBC raises target price to C$118 from C$106

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,497.5; -0.8%

US crude: $52.06; +1.9%

Brent crude: $56.95; +1.28%

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims: Expected 215,000; Prior 215,000

0830 Jobless claims 4-week average: Prior 211,500

0830 Continued jobless claims: Expected 1.690 mln; Prior 1.699 mln

1000 Wholesale inventory, R mm for Jun: Expected 0.2%; Prior 0.2%

1000 Wholesale sales mm for Jun: Expected 0.2%; Prior 0.1%

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$1.33)

Reporting by Hrithik Kiran Bagade in Bengaluru; Editing by Bernard Orr

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