March 18, 2016 / 11:43 AM / in 2 years

CANADA STOCKS-Futures higher ahead of inflation, retail data

March 18 (Reuters) - Futures pointed to a slightly higher opening for Canadian stocks on Friday ahead of the annual inflation and January retail data.

Canada’s annual inflation rate is expected to have cooled to 1.5 percent, pulling away from the Bank of Canada’s 2 percent target and giving the central bank room to remain accommodative.

Data on Canadian retail sales in January will show how consumers held up at the beginning of the year. Sales are expected to have risen 0.6 percent, after a slump in December.

Inflation and retail sales data are due at 8:30 a.m. ET

June futures on the S&P TSX index were up 0.18 percent at 7:40 a.m. ET.

Canada’s main stock index rose to a four-month high on Thursday as higher oil prices supported energy stocks, while the financial and industrial sectors also gained.

Dow Jones Industrial Average e-mini futures were up 0.27 percent at 7:40 a.m. ET, while S&P 500 e-mini futures were up 0.28 percent and Nasdaq 100 e-mini futures were up 0.23 percent.

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

TOP STORIES

Canada’s BRP Inc, the maker of Ski-Doo snowmobiles and Sea-Doo watercraft, swung to a quarterly loss, hurt by a C$70 million impairment charge on its outboard engine assets.

Canada’s Paramount Resources Ltd agreed on Thursday to sell a natural gas processing complex in the Montney shale formation in Alberta to Pembina Pipeline Corp for C$556 million ($428 million) in cash.

COMMODITIES AT 7:40 a.m. ET

Gold futures : $1,255.00; -0.75 pct

US crude : $40.91; +1.77 pct

Brent crude : $42.30; +1.81 pct

LME 3-month copper : $5,085.00; +0.31 pct

ANALYST RESEARCH HIGHLIGHTS

Silver Wheaton Corp : Dundee raises target price to C$28 from C$25

U.S. ECONOMIC DATA DUE ON FRIDAY

1000 U Mich Sentiment Preliminary for Mar: Expected 92.2; Prior 91.7

1000 U Mich Conditions Preliminary for Mar: Expected 107.0; Prior 106.8

1000 U Mich Expectations Preliminary for Mar: Expected 82.3; Prior 81.9

1000 U Mich 1 year inflation preliminary for Mar: Prior 2.5 pct

1000 U Mich 5-year inflation preliminary for Mar: Prior 2.5 pct

1030 ECRI Weekly Index: Prior 131

1030 ECRI weekly annualized : Prior -3.1 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$1.30) (Reporting by Riniki Sanyal in Bengaluru; Editing by Don Sebastian)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below