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CANADA STOCKS-TSX set to open lower on dismal Chinese trade data
February 9, 2015 / 12:36 PM / 3 years ago

CANADA STOCKS-TSX set to open lower on dismal Chinese trade data

Feb 9 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Monday after Chinese trade data showed exports and imports tumbled more than expected.

March futures on the S&P TSX index were down 0.36 percent at 7:15 a.m. ET.

Canadian housing starts data is due at 8:15 a.m. ET.

Canada’s main stock index fell on Friday as strong U.S. jobs data increased investor worries that the U.S. Federal Reserve will raise interest rates, sending the bullion price and shares of gold miners sharply lower.

Dow Jones Industrial Average e-mini futures were down 0.56 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.6 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)

TOP STORIES

Gran Tierra Energy Inc, a Canadian oil and gas producer, more than halved its 2015 capex budget and cut its production forecast for the year following the sharp decline in oil prices.

Canadian Finance Minister Joe Oliver called on Monday for compromise over Greece’s debt, telling Reuters that while Athens must not make a wholesale repudiation of its debt, its creditors also needed to work with it to arrive at a compromise solution.

Cameco Corp reported on Friday a 14 percent increase in quarterly earnings, helped by a 6 percent rise in average realized uranium prices.

COMMODITIES AT 7.15 a.m. ET

Gold futures : $1,239.7; +0.31 pct

US crude : $52.53; +1.64 pct

Brent crude : $58.13; +0.57 pct

LME 3-month copper : $5,682; +0.57 pct

ANALYST RESEARCH HIGHLIGHTS

Brookfield Renewable Energy : NBF raises price target to C$43 from C$41

Input Capital Corp Canaccord Genuity raises price target to C$3.75 from C$3.50

Canfor Corp CIBC raises price target to C$36 from C$32

U.S. ECONOMIC DATA DUE ON MONDAY

1000 Employment trends: Prior +128.4

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$1.25 Reporting by Nandi Kaul in Bengaluru; Editing by Savio D'Souza

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