May 10, 2017 / 11:50 AM / 3 months ago

CANADA STOCKS-TSX futures down; corporate earnings remain in focus

3 Min Read

May 10 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Wednesday as investors awaited a fresh batch of corporate earnings.

Linamar Corp, Sunopta Inc and Gluskin Sheff + Associates are some of the companies scheduled to report quarterly results later in the day.

June futures on the S&P TSX index were down 0.14 percent at 7:15 a.m. ET.

Canada's main stock index fell on Tuesday as banks, oil and gas companies pulled the market lower, but losses were modestly tempered by Valeant Pharmaceuticals International and Home Capital Group Inc stocks, which soared as investors cheered news from the companies.

No major Canadian economic releases are scheduled for the day.

Dow Jones Industrial Average e-mini futures were down 0.25 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.18 percent and Nasdaq 100 e-mini futures were down 0.07 percent.

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Top Stories

Bombardier Inc faced fresh pension fund opposition to the re-election of its executive chairman and the Quebec government said the plane and train maker should listen to the growing number of institutional shareholders citing governance concerns.

Insurer Sun Life Financial Inc, reported a smaller-than-expected profit on Tuesday, hurt by weak growth in its U.S market.

The Public Sector Pension Investment Board, one of Canada's largest pension investment managers, said on Wednesday it planned to expand its London operations, hiring staff and boosting investments.

Analyst Research Highlights

CCL Industries Inc: CIBC raises target price to C$340 from C$320

Sun Life Financial:National Bank of Canada cuts price target to C$52; rating "outperform"

Western Forest Products Inc: CIBC raises price target to C$2.50 from C$2.25


Gold futures: $1220; +0.47 percent

US crude: $46.41; +1.16 percent

Brent crude: $49.25; +1.07 percent

LME 3-month copper: $5513; +0.02 percent

u.s. Economic Data Due on Wednesday

08:30 Import prices mm for Apr: Expected 0.2 pct; Prior -0.2 pct

08:30 Export prices mm for Apr: Expected 0.1 pct; Prior 0.2 pct

11:00 TR IPSOS PCSI for May: Prior 60.47

14:00 Federal budget for Apr: Expected -$175.8 bln; Prior -$176.0 bln

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$1.37) (Reporting by Nikhil Kumar in Bengaluru; Editing by Saumyadeb Chakrabarty)

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