February 12, 2015 / 12:27 PM / 3 years ago

CANADA STOCKS-TSX set to open higher, tracking global markets

Feb 12 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Thursday, tracking gains in global markets.

March futures on the S&P TSX index were up 0.59 percent at 7:15 a.m. ET.

New Housing Price Index data for December is due at 8:30 a.m. ET.

Canada’s main stock index ended higher on Wednesday as gains in the energy and financial sectors helped offset uncertainty surrounding discussions on a Greek debt deal.

Dow Jones Industrial Average e-mini futures were up 0.47 percent at 7:15 a.m. ET on Thursday, while S&P 500 e-mini futures were up 0.47 percent and Nasdaq 100 e-mini futures were up 0.53 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Bombardier Inc named a former United Technologies Corp executive as CEO, and reported a quarterly loss due to a $1.4 billion charge related to its decision to suspend its Learjet 85 business aircraft program.

Cenovus Energy Inc, Canada’s second-largest independent oil producer, reported a quarterly loss that ballooned eight times and said it would cut 15 percent jobs, freeze salary hikes and cut discretionary spending as it adjusts to the slump in global crude prices.

Manulife Financial Corp reported a weaker-than-expected fourth-quarter profit and warned macroeconomic factors such as low interest rates would produce “headwinds” in 2015.

Telus Corp, one of Canada’s largest telecommunications companies, reported an 8 percent rise in quarterly profit as rising smartphone adoption and the expansion of LTE network boosted revenue in its wireless business.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,222.8; +0.31 pct

US crude : $50.42; +3.24 pct

Brent crude : $56.1; +2.63 pct

LME 3-month copper : $5,684.5; +1.51 pct

ANALYST RESEARCH HIGHLIGHTS

Air Canada : CIBC raises price target by C$1.00 to C$17.50

Boardwalk REIT : Canaccord Genuity cuts target price to C$60 from C$66

Mainstreet Equity Corp : Canaccord Genuity cuts target price to C$42.50 from C$45.00

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial Jobless Claims: Expected +285,000; Prior +278,000

0830 Jobless Claims 4-Wk Avg: Prior +292,750

0830 Continued Jobless Claims: Expected +2.393 mln; +Prior 2.400 mln

0830 Retail Sales mm for Jan: Expected -0.5 pct; Prior -0.9 pct

0830 Retail Sales Ex-Autos mm for Jan: Expected -0.4 pct; Prior -1.0 pct

0830 Retail Ex Gas/Autos for Jan: Expected +0.4 pct; Prior -0.3 pct

0830 Retail Control for Jan: Expected +0.4 pct; Prior -0.4 pct

1000 Business Inventories mm for Dec: Expected +0.2 pct; 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$1.26 Reporting by Nandi Kaul in Bengaluru; Editing by Savio D'Souza

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