February 20, 2020 / 12:43 PM / 3 months ago

CANADA STOCKS-TSX futures flat as virus fears offset China's efforts to boost economy

Feb 20 (Reuters) - Canada’s main stock index futures were little changed on Thursday, as worries over a rise in coronavirus cases in South Korea offset the impact of China’s efforts to boost its economy and a drop in new cases at the epicenter of the epidemic.

Dozens of people in South Korea were infected by the coronavirus in what the authorities described as a “super-spreading event” at a church. The country, which has reported one coronavirus death, now has 104 confirmed cases of the flu-like virus.

March futures on the S&P/TSX index were slightly down 0.05% at 7:05 a.m. ET.

Canada’s new housing price index is due at 08:30 a.m. ET

The Toronto Stock Exchange’s TSX closed 0.38% higher at 17,925.36 on Wednesday.

Dow Jones Industrial Average e-mini futures were down 0.21% at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.18% and Nasdaq 100 e-mini futures were down 0.21%.

TOP STORIES

Thomson Reuters Corp, is close to naming former Nielsen Holdings Plc president Steve Hasker as its next chief executive, succeeding Jim Smith, according to people familiar with the matter.

Canadian miner Kirkland Lake Gold Ltd raised its full-year forecast for gold production and beat analysts’ estimates for quarterly profit, driven by higher production at its Fosterville mine in Victoria, Australia.

Canadian telecom operator Telus Corp said on Wednesday it aims to raise about C$1.3 billion through a public stock offering, priced at C$52 per share.

ANALYST RESEARCH HIGHLIGHTS

Bank of Montreal: Scotiabank raises target price to C$110 from C$107

Dollarama Inc: Wells Fargo cuts to underweight from overweight

Kinaxis Inc: CIBC raises target price to C$125 from C$110

COMMODITIES AT 7:05 a.m. ET

Gold futures: $1616; + 0.45%

U.S. crude: $53.45; + 0.3%

Brent crude: $59.22; + 0.17%

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims: Expected 210,000; prior 205,000

0830 Jobless claims 4-week average: Prior 212,000

0830 Continued jobless claims: Expected 1.720 mln; prior 1.698 mln

0830 (approx.) Philly Fed Business Index for Feb: Expected 12.0; prior 17.0

0830 (approx.) Philly Fed 6M Index for Feb: Prior 38.40

0830 (approx.) Philly Fed Capex Index for Feb: Prior 32.90

0830 (approx.) Philly Fed Employment for Feb: Prior 19.30

0830 (approx.) Philly Fed Prices Paid for Feb: Prior 22.10

0830 (approx.) Philly Fed New Orders for Feb: Prior 18.20

1000 (approx.) Leading index change mm for Jan: Expected 0.4%; prior -0.3%

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$1.33) (Reporting by Sourav Bose in Bengaluru; Editing by Vinay Dwivedi)

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