May 22, 2015 / 1:03 PM / 3 years ago

CANADA STOCKS-Futures pare gains after weak inflation data

(Adds inflation, retail sales data)

May 22 (Reuters) - Stock futures pared gains and indicated a slightly higher start for Canada’s main stock index on Friday after weaker-than-expected inflation data.

Canada’s annual inflation rate cooled to 0.8 percent in April, making for the smallest increase since October 2013, due to cheaper energy, data from Statistics Canada showed.

Canadian retail sales rose 0.7 percent in March, climbing for the second month in a row as consumers spent more on cars, food and alcohol, according to data from Statistics Canada.

June futures on the S&P TSX index were up 0.09 percent at 8:45 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index rebounded on Thursday as financial and energy stocks, bolstered by a rally in oil prices, pushed the TSX to its best performance in more than a week.

Dow Jones Industrial Average e-mini futures were down 0.09 percent at 8:45 a.m. ET, while S&P 500 e-mini futures were down 0.14 percent and Nasdaq 100 e-mini futures were down 0.02 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

The largest group of shareholders in oil producer Pacific Rubiales Energy Corp is “extremely disappointed” in a C$6.50-per-share takeover bid from Alfa SAB de CV and Harbour Energy Ltd, and will vote against the deal, the investors said on Thursday.

Smartphone maker BlackBerry Ltd said it planned to buy back 12 million shares.

Hootsuite, a provider of software to manage social media on a global scale and one of Canada’s most valuable tech startups, hinted on Thursday that it might move up its timeline on an initial public offering in light of the success of fellow Canadian startup Shopify.

COMMODITIES AT 8:45 a.m. ET

Gold futures : $1,211.90; +0.62 pct

US crude : $60.11; -1.00 pct

Brent crude : $65.69; -1.28 pct

LME 3-month copper : $6,153; -1.58 pct

ANALYST RESEARCH HIGHLIGHTS

ATS Automation Tooling Systems Inc : Paradigm Capital raises price target to C$19 from C$14.25; raises rating to “buy” from “hold”

Canam Group Inc : Raymond James raises target price to C$18 from C$16; rating “outperform”

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 CPI mm, SA for Apr: Actual 0.1 pct; Prior 0.2 pct

0830 CPI yy, NSA for Apr: Actual -0.2 pct; Prior -0.1 pct

0830 Core CPI mm, SA for Apr: Actual 0.3 pct; Prior 0.2 pct

0830 Core CPI yy, NSA for Apr: Actual 1.8 pct; Prior 1.8 pct

0830 CPI Index, NSA For Apr: Actual 236.60; Prior 236.12

0830 Core CPI Index, SA For Apr: Actual 241.41; Prior 240.79

0830 Real weekly earnings mm for Apr: Actual 0.0 pct; Prior -0.2 pct

1030 ECRI Weekly Index: Prior 134.6

1030 ECRI weekly annualized: Prior 1.2 pct

1130 Cleveland fed CPI for Apr: Prior 0.2 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$1.22) (Reporting by Nikhil Kumar in Bengaluru; Editing by Simon Jennings)

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