August 9, 2019 / 11:36 AM / 13 days ago

CANADA STOCKS-TSX futures down amid concerns over trade tensions

Aug 9 (Reuters) - Futures for Canada’s main stock index were indicating a lower open on Friday, mirroring weaker global markets on the back of ongoing trade tensions between the United States and China.

September futures on the S&P/TSX index were down 0.33% at 7:00 a.m. ET.

Canada’s building permits data and employment data are due at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX rose 139.31 points, or 0.86%, to 16,404.53 on Thursday.

Dow Jones Industrial Average e-mini futures were down 0.53% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.63% and Nasdaq 100 e-mini futures were down 0.86%.

TOP STORIES

The Canadian government announced final regulations to reduce patented drug prices it said would save Canadians C$13.2 billion over a decade, overriding heavy opposition from pharmaceutical companies.

A coalition of 32 environmental and indigenous groups on Thursday urged insurers to stop underwriting the Trans Mountain pipeline to pressure Canada to cancel its plan to expand the project, which carries crude from Alberta’s oil sands to British Columbia’s Pacific coast.

ANALYST RESEARCH HIGHLIGHTS

AltaGas Canada: National Bank of Canada raises target price to C$25 from C$20

Cronos Group Inc: Canaccord Genuity raises rating to hold from sell

KP Tissue Inc: RBC raises rating to outperform from sector perform

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,504.4; +0.31%

US crude: $53.34; +1.52%

Brent crude: $58.27; +1.55%

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 PPI final demand yy for Jul: Expected 1.7%; Prior 1.7%

0830 PPI final demand mm for Jul: Expected 0.2%; Prior 0.1

0830 PPI ex food/energy yy for Jul: Expected 2.4; Prior 2.3%

0830 PPI ex food/energy mm for Jul: Expected 0.2%; Prior 0.3%

0830 PPI ex food/energy/transport yy for Jul: Prior 2.1%

0830 PPI ex food/energy/transport mm for Jul: Prior 0.0%

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 Hrithik Kiran Bagade in Bengaluru; Editing by Maju Samuel)

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