Feb 21 (Reuters) - Stock futures for Canada’s main equity index slipped on Friday, dragged by a fall in oil prices on renewed uncertainty over the impact of the coronavirus epidemic.
March futures on the S&P/TSX index were down 0.08% at 7:05 a.m. ET.
The new coronavirus has infected about 500 people in China’s prisons, almost half outside the province at the centre of the epidemic, authorities said, while South Korea reported 100 new cases that doubled its infections.
Data on Canadian retail sales is due at 08:30 a.m. ET
The Toronto Stock Exchange’s TSX closed 0.10% higher to 17,944.06 on Thursday.
Dow Jones Industrial Average e-mini futures were down 0.34% at 7:05 a.m. ET, while S&P 500 e-mini futures were down 0.37% and Nasdaq 100 e-mini futures were down 0.44%.
Royal Bank of Canada beat quarterly profit estimates, as higher revenue from bond trading boosted the bank’s capital markets business.
Canadian Imperial Bank of Commerce is expected to make changes to its senior executive ranks and announce about 2,000 job cuts when it reports first-quarter earnings next week, the Globe and Mail reported.
Canadian auto parts Magna International Inc reported a better-than-expected quarterly profit, partly helped by lower costs, and reaffirmed its expectations of lower 2020 sales.
Canadian miner Teck Resources Ltd, reported a 76% fall in fourth-quarter adjusted profit, hurt by lower prices for steelmaking coal, its biggest business, and warned the coronavirus outbreak would damage future earnings.
ANALYST RESEARCH HIGHLIGHTS
Altus Group Ltd: National Bank of Canada raises target price to C$45 from C$40
Cargojet Inc: RBC raises target price to C$132 from C$126
Loblaw Companies Ltd: CIBC raises target price to C$82 from C$80
COMMODITIES AT 7:05 a.m. ET
Gold futures: $1633.7; + 1.01%
U.S. crude: $52.91; - 1.8%
Brent crude: $58.19; - 1.89%
U.S. ECONOMIC DATA DUE ON FRIDAY
0945 Markit Composite PMI flash for Feb: Prior 53.3
0945 Markit Manufacturing PMI flash for Feb: Expected 51.5; Prior 51.9
0945 Markit Services PMI flash for Feb: Expected 53.0; Prior 53.4
1000 Existing home sales for Jan: Expected 5.43 mln; Prior 5.54 mln
1000 Existing home sales percentage change for Jan: Expected -1.8%; Prior 3.6%
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)
Our Standards: The Thomson Reuters Trust Principles.