May 4, 2016 / 11:52 AM / 2 years ago

CANADA STOCKS-Futures trade lower on global growth concerns

May 4 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Wednesday as investors remained cautious about the health of global economy a day after a deluge of lackluster manufacturing data from across the world.

June futures on the S&P TSX index were down 0.4 percent at 7:30 a.m. ET.

Trade data is due at 8:30 a.m. ET.

Canada’s main stock index fell to a two-week low on Tuesday as lower commodity prices weighed on energy and materials stocks, while financials dropped after Canadian Western Bank set aside more money for loan losses.

Dow Jones Industrial Average e-mini futures were down 0.51 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were down 0.61 percent and Nasdaq 100 e-mini futures were down 0.71 percent.

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

TOP STORIES

U.S. fertilizer company Mosaic Co forecast higher phosphate and potash sales for the current quarter after it reported higher-than-expected first-quarter sales.

Canada’s Shopify Inc , a maker of software that helps retailers set up and manage online stores, said its loss widened in the first quarter from the fourth quarter as operating expenses rose.

Canadian meat processor Maple Leaf Foods Inc reported a first-quarter profit, compared with a year-ago loss, helped by higher earnings in its meat products business.

COMMODITIES AT 7:30 a.m. ET

Gold futures : $1,277.20; -1.05 pct

US crude : $43.83; +0.41 pct

Brent crude : $45.12; +0.33 pct

LME 3-month copper : $4,881.00; -0.81 pct

ANALYST RESEARCH HIGHLIGHTS

Baytex Energy Corp : BMO raises target price to C$6 from C$5.50; rating “underperform”

IAMGOLD Corp : National Bank Financial raises target price to C$4.40 from C$4.10; rating “sector perform”

Westjet Airlines Ltd : BMO raises target price to C$25 from C$22; rating “outperform”

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0815 ADP national employment for Apr: Expected 196,000; Prior 200,000

0830 International trade mm for Mar: Expected -$41.5 bln; Prior -$47.1 bln

0830 Labor costs preliminary for Q1: Expected 3.3 pct; Prior 3.3 pct

0830 Productivity preliminary for Q1: Expected -1.4 pct; Prior -2.2 pct

0945 Markit Services PMI Final for Apr: Prior 52.1

0945 Markit Composite Final PMI for Apr: Prior 51.7

1000 Durables ex-defense, R mm for Mar: Prior -1.0 pct

1000 Durable goods, R mm for Mar: Prior 0.8 pct

1000 Factory orders mm for Mar: Expected 0.6 pct; Prior -1.7 pct

1000 Durables ex-transport R mm for Mar: Prior -0.2 pct

1000 Nondefense cap ex-air R mm for Mar: Prior 0.0 pct

1000 Factory ex-transport mm for Mar: Prior -0.8 pct

1000 ISM N-Manufacturing PMI for Apr: Expected 54.7; Prior 54.5

1000 ISM N-Manufacturing Business Activity for Apr: Expected 59.2; Prior 59.8

1000 ISM N-Manufacturing Employment Index for Apr: Prior 50.3

1000 ISM N-Manufacturing New Orders Index for Apr: Prior 56.7

1000 ISM N-Manufacturing Price Paid Index for Apr: Prior 49.1

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$1.28) (Reporting by Nikhil Kumar in Bengaluru; Editing by Saumyadeb Chakrabarty)

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