(Updates Canada economic data)
Aug 22 (Reuters) - Stock futures indicated a higher start for Canada’s main stock index ahead of speeches by Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi at the annual gathering of central bankers in Jackson Hole, Wyoming.
The annual inflation rate softened more than expected in July and the core rate unexpectedly fell, Statistics Canada said, weighed by a drop in prices of gasoline, clothing and healthcare.
Consumers once again bolstered the economy in June, with retail sales rising for the sixth straight month, by a stronger-than-expected 1.1 percent to a new record, according to Statistics Canada data.
September futures on the S&P TSX index <0#SXF:> were up 0.09 percent at 0845 ET.
The Toronto Stock Exchange’s S&P/TSX composite index was little changed on Thursday as investors awaited a speech from Yellen to scan for clues about the central bank’s outlook for interest rates.
Dow Jones Industrial Average e-mini futures were down 0.12 percent at 0845 ET, while S&P 500 e-mini futures were down 0.16 percent and Nasdaq 100 e-mini futures were down 0.07 percent.
Royal Bank of Canada reported a bigger-than-expected increase in third-quarter earnings, driven by strong results from its wealth management and capital markets divisions.
A federal judge in California denied on Thursday a request by Allergan Inc to expedite its civil suit claiming that Valeant Pharmaceuticals International Inc and Pershing Square Capital Management engaged in insider trading ahead of their bid to buy Allergan.
COMMODITIES AT 0845 ET
Gold futures : $1,278.4; +0.35 pct
US crude : $93.56; -0.43 pct
Brent crude : $102.45; -0.18 pct
LME 3-month copper : $7,076.15; +0.87 pct
ANALYST RESEARCH HIGHLIGHTS
Algonquin Power & Utilities Corp : CIBC raises target price to C$9 from C$8.25; rating sector performer
Duluth Metals Ltd : TD Securities cuts target price to C$0.35 from C$0.85; rating hold
U.S. ECONOMIC DATA DUE ON FRIDAY
10:30 ECRI Weekly Index: Prior +134.3
10:30 ECRI Weekly Annualized: Prior +3.6 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= $1.10 Canadian Reporting by Nikhil Kumar; Editing by Simon Jennings
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