Jan 29 (Reuters) - Canada's main stock index looked set to
follow global markets higher after the Bank of Japan sprang a
surprise by taking one of its main interest rates into negative
territory.
With consumer inflation just 0.1 percent in the year to
December despite three years of aggressive money-printing, the
BOJ's policy board decided in a narrow 5-4 vote to charge a 0.1
percent interest on a portion of current account deposits that
financial institutions hold with the central bank.
March futures on the S&P TSX index SXFc1 were up 1.04
percent at 7:15 a.m. ET.
Data on gross domestic product and producer prices is due at
8:30 a.m. ET ECONCA .
Canada's economy is expected to have grown by 0.3 percent in
November, underscoring expectations that the fourth quarter was
likely weak at best. The Bank of Canada recently forecast that
the economy likely stalled in the quarter, not long after the
country emerged from the mild recession in the first half of
2015.
The Toronto Stock Exchange's S&P/TSX composite index made
sharp gains on Thursday, with energy stocks riding an oil price
rally tied to hopes for a deal to clear a global glut, while
shares of Bombardier Inc BBDb.TO fell further into territory
that risks expulsion from the index.
Dow Jones Industrial Average e-mini futures 1YMc1 were up
0.80 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
Esc1 were up 0.78 percent and Nasdaq 100 e-mini futures NQc1
were up 0.61 percent. .N
(Morning News Call newsletter http://link.reuters.com/nex49s;
The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES TOP/CAN
Brookfield Asset Management Inc BAMa.TO has been exploring
an acquisition in recent months of General Growth Properties Inc
(N:GGP) GGP.N , the U.S. mall operator with a market value of $24
billion, according to people familiar with the matter.
Miner Endeavour Silver Corp will reduce production of the
precious metal this year by more than a quarter because of low
prices, the company said on Thursday. AT 7:15 a.m. ET COM/WRAP
Gold futures GCc2 : $1,112.90; -0.24 pct GOL/
US crude CLc1 : $33.50; +0.71 pct O/R
Brent crude LCOc1 : $34.13; +0.71 pct O/R
LME 3-month copper CMCU3 : $4,547.00; +0.38 pct MET/L
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Athabasca Oil Corp ATH.TO : Raymond James raises rating to
"outperform" from "market perform"
Endeavour Silver Corp EDR.TO : BMO cuts rating to
"underperform"
WestJet Airlines Ltd WJA.TO : BofA Merrill cuts rating to
"underperform" from "neutral"
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Advance goods trade balance for Dec: Prior -60.50 bln
0830 GDP advance for Q4: Expected 0.8 pct; Prior 2.0 pct
0830 GDP sales advance for Q4: Expected 1.7 pct; Prior 2.7
pct
0830 GDP consumer spending advance for Q4: Prior 3.0 pct
0830 GDP deflator advance for Q4: Expected 0.8 pct; Prior
1.3 pct
0830 Core PCE prices advance for Q4: Expected 1.2 pct; Prior
1.4 pct
0830 PCE prices advance for Q4: Expected 0.7 pct; Prior 1.3
pct
0830 Employment wages qq for Q4: Prior 0.6 pct
0830 Employment benefits qq for Q4: Prior 0.5 pct
0830 Employment costs for Q4: Expected 0.6 pct; Prior 0.6
pct
0945 Chicago PMI for Jan: Expected 45.0; Prior 42.9
0955 U Mich sentiment final for Jan: Expected 93.0; Prior
93.3
0955 U Mich conditions final for Jan: Expected 105.5; Prior
105.1
0955 U Mich expectations final for Jan: Expected 84.5; Prior
85.7
0955 U Mich 1 year inflation final for Jan: Prior 2.4 pct
0955 U Mich 5-year inflation final for Jan: Prior 2.7 pct
1030 ECRI Weekly Index: Prior 130.2
1030 ECRI weekly annualized: Prior -1.9 pct
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1
EPOLL/CA
Canadian markets directory CANADA
($1= C$1.32)