Sept 29 - Tracking weakness in global markets, Canada’s main stock index looked set for a lower start on Monday as pro-democracy protests in Hong Kong weighed on Asia exposed stocks.
December futures on the S&P TSX index <0#SXF:> were down 0.31 percent at 0715 ET.
No major economic events are scheduled.
Canada’s main stock index jumped in choppy trading on Friday, recovering from a sharp selloff the previous session, as U.S. economic data helped drive gains.
The U.S. economy grew at its fastest pace in 2-1/2 years in the second quarter with all sectors contributing to the jump in output in a bullish signal for the rest of the year.
Dow Jones Industrial Average e-mini futures were down 0.53 percent at 0715 ET, S&P 500 e-mini futures were down 0.54 percent and Nasdaq 100 e-mini futures were down 0.54 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Encana Corp said it would buy Athlon Energy Inc for $5.93 billion in cash, excluding debt, as it accelerates its plan to focus on more-lucrative oil and natural-gas liquids.
Limited crude supplies at Cushing, Oklahoma, have prompted pipeline company Enbridge Inc to implement new steps to increase the flow into the storage hub and delivery point for U.S. crude oil futures.
COMMODITIES AT 0715 ET
Gold futures : $1,219.70; +0.4 pct
US crude : $93.08; -0.49 pct
Brent crude : $96.53; -0.48 pct
LME 3-month copper : $6,697.50; -0.31 pct
ANALYST RESEARCH HIGHLIGHTS
Canadian Pacific Railway Limited : Barclays raises target price to C$240 from C$220
CGI Group Inc : Goldman Sachs resumes with “buy” rating
Emera Inc : Barclays raises target price to C$40; “overweight” rating
U.S. ECONOMIC DATA DUE ON MONDAY
0830 Personal Consumption Real mm for Aug: Prior -0.2 pct
0830 Personal Income mm for Aug: Expected 0.3 pct; Prior 0.2 pct
0830 Consumption, Adjusted mm for Aug: Expected 0.4 pct; Prior -0.1 pct
0830 Core PCE Price Index mm for Aug: Expected 0.0 pct; Prior 0.1 pct
0830 Core PCE Price Index yy for Aug: Prior 1.5 pct
0830 PCE Price Index mm for Aug: Prior 0.1 pct
0830 PCE Price Index yy for Aug: Prior 1.6 pct
1000 Pending Homes Index for Aug: Prior 105.9
1000 Pending Sales Change mm for Aug: Expected -0.1 pct; Prior 3.3 pct
1030 Dallas Fed Manufacturing Bus Idx for Sep: Prior 7.10
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory