(Updates with inflation and wholesale trade data)
Dec 18 (Reuters) - Stock futures pointed to a lower opening
for Canada's main stock index on Friday, as crude oil prices
continued their slide and were on track for a third straight
weekly drop.
March futures on the S&P TSX index SXFc1 were down 0.37
percent at 8:40 a.m. ET, recovering slightly, after data showed
annual inflation edged up to 1.4 percent in November, lower than
economists' forecasts for a rise to 1.5 percent.
The value of wholesale trade unexpectedly declined in
October, weighed by lower sales in the food and motor vehicle
and parts sectors, data from Statistics Canada
showed.
Canada's main stock index fell on Thursday as weaker
commodity prices following Wednesday's U.S. Federal Reserve rate
hike weighed on energy and mining stocks, while a wireless
acquisition dragged telecom stocks lower.
Dow Jones Industrial Average e-mini futures 1YMc2 were
down 0.37 percent at 8:40 a.m. ET, while S&P 500 e-mini futures
Esc2 were down 0.31 percent and Nasdaq 100 e-mini futures
NQc2 were down 0.02 percent. .N
(Morning News Call newsletter http://link.reuters.com/nex49s;
The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES TOP/CAN
BlackBerry Ltd BB.TO BBRY.O reported a
smaller-than-expected fiscal third-quarter loss and its first
quarter-to-quarter revenue gain in over two years, indicating
turnaround efforts may be gaining traction.
Bank of Nova Scotia BNS.TO is considering selling its 49
percent stake in Thanachart Bank Pcl, Thailand's No.2 car loan
provider, after struggling to make an Asian retail presence
work, a source familiar with the plan said.
Canadian Pacific Railway Ltd's CP.TO $27 billion bid for
Norfolk Southern Corp (N:NSC) NSC.N risks coming unstuck due to
regulatory scrutiny of its impact on the U.S. rail market, in
particular the possibility it could spark competition-crushing
rival deals, according to former regulators and analysts.
COMMODITIES AT 8:40 a.m. ET COM/WRAP
Gold futures GCc2 : $1,056.1; +0.61 pct GOL/
US crude CLc1 : $35.90; -0.99 pct O/R
Brent crude LCOc1 : $36.54; -1.32 pct O/R
LME 3-month copper CMCU3 : $4,644.50; +2.16 pct MET/L
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Shaw Communications SJRB.TO : Canaccord Genuity cuts price
target to C$25 from C$27
Bonterra Energy Corp BNE.TO : CIBC cuts target price to
C$26 from C$29
Secure Energy Services Inc SES.TO : RBC cuts target price
to C$12 from C$14
U.S. ECONOMIC DATA DUE ON FRIDAY
0945 Markit Composite Flash PMI for Dec: Prior 55.90
0945 Markit Services PMI Flash for Dec: Expected 56.0; Prior
56.1
1030 ECRI Weekly Index: Prior 131.3
1030 ECRI weekly annualized: Prior -0.8 pct
1100 KC Fed Manufacturing for Dec: Prior 3
1100 KC Fed Composite Index for Dec: Prior 1
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$1.40)