July 9, 2020 / 11:49 AM / a month ago

CANADA STOCKS-TSX futures drop as virus anxiety grows

July 9 (Reuters) - Canada’s main stock index futures edged lower on Thursday as surging global coronavirus cases added to fears over the extent of the economic hit from the COVID-19 pandemic.

More than 12.08 million people have been reported to be infected by the novel coronavirus globally and 548,429​ have died, according to a Reuters tally.

September futures on the S&P/TSX index were down 0.3% at 7:00 a.m. ET.

On Wednesday, the Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE ended 0.22% higher at 15,629.19

Dow Jones Industrial Average e-mini futures were down 0.32% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.12% and Nasdaq 100 e-mini futures were up 0.34%.

TOP STORIES

Canada’s budget deficit is expected to hit C$343.2 billion ($253.4 billion), the largest shortfall since the Second World War, due to record emergency aid spending in response to the COVID-19 pandemic, Canada’s finance department said Wednesday.

France’s Alstom SA ALSO.PA will propose concessions to European regulators on Thursday, including the sale of a French rail factory, in an effort to win early antitrust approval for its planned purchase of Bombardier Inc’s BBDb.TO transportation unit, three sources familiar with the matter said on Wednesday.

ANALYST RESEARCH HIGHLIGHTS

EXFO Inc: BMO raises target price to $3.75 from $3.50 Canadian National Railway CO: JP Morgan raises target price to $123 from $115

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,816.4; -0.23%

US crude: $40.87; -0.07%

Brent crude: $43.45; +0.37%

U.S. ECONOMIC DATA DUE ON THURSDAY 08.30 Initial jobless claims : Expected 1,375,000; Prior 1,427,000 08.30 Jobless claims 4-week average : Prior 1,503,750 08.30 Continued jobless claims : Expected 18.950 mln; Prior 19.290 mln 10.00 Wholesale inventory, R mm for May: Expected -1.2%; Prior -1.2% 10.00 Wholesale sales mm for May: Prior -16.9%

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$1.35) (Reporting by Shivani Kumaresan in Bengaluru; Editing by Ramakrishnan M.)

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