May 14, 2020 / 11:38 AM / 20 days ago

CANADA STOCKS-TSX futures fall as WHO warning stokes economic recovery concerns

May 14 (Reuters) - Canada’s main stock index futures fell on Thursday as the World Health Organization (WHO) said COVID-19 could become endemic like HIV, fuelling concerns that recovery from the economic damages caused by the pandemic will take a long time.

The WHO on Wednesday also warned against any attempt to predict how long the virus would keep circulating and called for a “massive effort” to counter it.

June futures on the S&P/TSX index were down 0.34% at 7:00 a.m. ET.

Canada’s manufacturing sales data is due at 8:30 a.m. ET

The Toronto Stock Exchange’s S&P/TSX composite index fell 2.54% to 14,503.21 on Thursday.

Dow Jones Industrial Average e-mini futures were down 0.13% at 7:00 a.m. ET, S&P 500 e-mini futures were down 0.06%, while Nasdaq 100 e-mini futures were up 0.06%.

TOP STORIES

First Majestic Silver Corp said on Wednesday it served notice to the Mexican government under North American Free Trade Agreement provisions to begin negotiations to resolve disputes over how the silver producer is taxed in the country.

Canadian auto parts maker Linamar Corp beat quarterly profit estimates on Wednesday, helped by a cut in capital expenditure, while also boosting its liquidity despite the COVID-19 pandemic that forced automakers to halt production.

ANALYST RESEARCH HIGHLIGHTS

Boyd Group Services Inc: Jefferies raises target price to C$225 from C$190

Equitable Group Inc: RBC cuts target price to C$60 from C$61

Teck Resources Ltd: RBC cuts target price to C$20 from C$21

COMMODITIES AT 7:05 a.m. ET

Gold futures: $1721.9; +0.32%

US crude: $26.46; +4.63%

Brent crude: $30.37; +4.04%

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Import prices mm for Apr: Expected -3.1%; Prior -2.3%

0830 Export prices mm for Apr: Expected -2.1%; Prior -1.6%

0830 Import prices yy for Apr: Prior -4.1%

0830 Initial jobless claims: Expected 2,500,000; Prior 3,169,000

0830 Jobless claims 4-week average: Prior 4,173,500

0830 Continued jobless claims: Expected 25.100 mln; Prior 22.647 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$1.41 Reporting by Nachiket Tekawade in Bengaluru; Editing by Vinay Dwivedi

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