October 6, 2016 / 11:42 AM / 9 months ago

CANADA STOCKS-Futures slip on U.S. rate hike prospects

3 Min Read

Oct 6 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Thursday ahead of Friday's U.S. non-farm payrolls report, which is likely to raise expectations that the U.S. Federal Reserve could raise interest rates before the end of the year.

December futures on the S&P TSX index were down 0.2 percent at 7:10 a.m. ET.

Building permits for August, due at 8:30 a.m. ET, are expected to have risen 3.0 percent.

Canada's main stock index rose on Wednesday as higher oil prices boosted energy stocks, while the country's biggest railway companies and some of its major banks also gained as trade data offered further evidence of a third-quarter economic rebound.

Dow Jones Industrial Average e-mini futures were down 0.19 percent at 7:10 a.m. ET. S&P 500 e-mini futures were down 0.23 percent and Nasdaq 100 e-mini futures were down 0.18 percent.

(Morning News Call newsletter link.reuters.com/nex49s ; The Day Ahead newsletter link.reuters.com/mex49s)

Top Stories

Britain's SVG Capital accepted an offer from Goldman Sachs and the Canada Pension Plan Investment Board on Thursday, saying it gave shareholders a better return than a hostile bid from U.S. private equity rival HarbourVest.

Analyst Research Highlights

Air Canada : RBC raises to "top pick" from "outperform"

Canadian National Railway : J.P. Morgan raises target price to C$90 from C$87

Timbercreek Financial Corp : TD Securities starts with "buy" rating, C$9 target price


Gold futures : $1,268.2; +0.1 pct

US crude : $49.72; -0.22 pct

Brent crude : $51.82; -0.08 pct

LME 3-month copper : $4,758.00; -0.86 pct

u.s. Economic Data Due on Thursday

0830 Initial jobless claims: Expected 257,000; Prior 254,000

0830 Jobless claims 4-week average: Prior 256,000

0830 Continued jobless claims : Expected 2.090 mln; Prior 2.062 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 Astha Rawat in Bengaluru; Editing by Maju Samuel)

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