December 8, 2016 / 12:28 PM / a year ago

CANADA STOCKS-Futures flat ahead of housing data

Dec 8 (Reuters) - Stock futures pointed to flat opening for Canada’s main index on Thursday, a day after the index jumped to a 19-month high, as investors awaited October housing starts data.

Analysts will look at October’s new housing price index to see if the government’s new mortgage regulations that came into effect in October had any impact on prices, particularly in hot markets such as Toronto. The new housing prices likely added 0.2 percent in October.

Housing starts data is due at 8:15 a.m. ET and building permits data, new housing price index is scheduled for release at 8:30 a.m. ET.

December futures on the S&P TSX index were down 0.09 percent at 7:15 a.m. ET.

Canada’s benchmark stock index rose on Wednesday as gains for sectors that benefit most from stronger economic growth offset a drop in energy shares prompted by lower oil prices.

Dow Jones Industrial Average e-mini futures were up 0.04 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.04 percent and Nasdaq 100 e-mini futures were up 0.07 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Oil producer Cenovus Energy Inc said it planned to increase its 2017 capital budget by about 24 percent.

Yoga and leisure apparel retailer Lululemon Athletica Inc on Wednesday reported quarterly profit that beat analysts’ forecasts, helped by higher-than-expected gross margins and sales.

Light oil and gas producer Crescent Point Energy Corp said on Wednesday it will increase its 2017 capital budget 31 percent from this year to C$1.45 billion and boost production by 10 percent.

ANALYST RESEARCH HIGHLIGHTS

Bank of Montreal : Dundee raises target price to C$95 from C$90

Dollarama Inc : Canaccord Genuity raises price target to C$111 from C$108

Transcontinental : Canaccord Genuity raises target price to C$20 from C$17

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,177.2; +0.09 pct

US crude : $50.18; +0.86 pct

Brent crude : $53.44; +0.83 pct

LME 3-month copper : $5,847.50; +1.08 pct

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims: Expected 258,000; Prior 268,000

0830 Jobless claims 4-week average: Prior 251,500

0830 Continued jobless claims: Expected 2.059 mln; Prior 2.081 mln

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$1.32) (Reporting by Nivedita Balu in Bengaluru; Editing by Savio D‘Souza)

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