February 1, 2016 / 12:30 PM / 2 years ago

CANADA STOCKS-Futures lower as weak China data fuels caution

3 Min Read

Stock futures pointed to a lower opening for Canada's main stock index on Monday as investors turned cautious after weak manufacturing data from China and Europe.

China's manufacturing activity contracted at its fastest pace in almost 3-1/2 years in January, suggesting the world's second-largest economy was off to a weak start in 2016.

Manufacturing growth also slowed in the euro zone at the start of 2016.

March futures on the S&P TSX index were down 0.66 percent at 7:15 a.m. ET.

The RBC Canadian Manufacturing PMI data is due at 9:30 a.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index jumped on Friday as investors cheered the Bank of Japan's bold move to stimulate growth, while rising oil prices and an accommodative royalty update in Alberta boosted energy stocks.

Dow Jones Industrial Average e-mini futures were down 0.49 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.52 percent and Nasdaq 100 e-mini futures were up/down 0.47 percent.

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

Top Stories

Royal Nickel Corp, capitalizing on discount asset prices as commodity markets swoon, announced two cash-and-stock acquisitions that transform the mine developer into a cash-generating nickel, copper and gold producer.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,122.50; +0.55 pct

US crude : $32.84; -2.32 pct

Brent crude : $35.52; -1.31 pct

LME 3-month copper : $4,514.50; -1.01 pct

Analyst Research Highlights

TransCanada Corp : CIBC raises target price to C$57 from C$56

u.s. Economic Data Due on Monday

0830 Personal consumption real mm for Dec: Prior 0.3 pct

0830 Personal income mm for Dec: Expected 0.2 pct; Prior 0.3 pct

0830 Consumption, adjusted mm for Dec: Expected 0.1 pct; Prior 0.3 pct

0830 Core PCE price index mm for Dec: Expected 0.1 pct; Prior 0.1 pct

0830 Core PCE price index yy for Dec: Prior 1.3 pct

0830 PCE price index mm for Dec: Prior 0.0 pct

0830 PCE price index yy for Dec: Prior 0.4 pct

0945 Markit Manufacturing PMI Final for Jan: Prior 52.7

1000 Construction spending mm for Dec: Expected 0.6 pct; Prior -0.4 pct

1000 ISM Manufacturing PMI for Jan: Expected 48; Prior 48

1000 ISM Manufacturing Prices Paid for Jan: Expected 34.0; Prior 33.5

1000 ISM Manufacturing Employment Index for Jan: Expected 48; Prior 48

1000 ISM Manufacturing New Orders Index for Jan: Prior 48.8

1300 Dallas fed PCE for Dec: Prior 1.6 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$1.40) (Reporting by Nikhil Kumar in Bengaluru; Editing by Saumyadeb Chakrabarty)

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