July 28 (Reuters) - Canada's main stock index was set to open lower on Thursday as oil prices slipped to 3-month lows a day after data showed a surprise rise in U.S. crude and gasoline inventories.
The build added to an already huge glut of global refined products just as slowing economic growth dents outlook on demand. futures on the S&P TSX index SXFc1 were down 0.07 percent at 7:30 a.m. ET.
Canada's main stock index closed barely lower on Wednesday, hurt by losses in energy shares as oil prices slid on a surprise inventory build, which offset the impact of positive comments from the U.S. Federal Reserve. major Canadian data is scheduled for release on Thursday. ECONCA
Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.02 percent at 7:30 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.01 percent and Nasdaq 100 e-mini futures NQc1 were down 0.01 percent. .N
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TOP STORIES TOP/CAN
Potash Corp of Saskatchewan POT.TO POT.N , the world's biggest fertilizer company by capacity, cut its full-year profit forecast for the second time, but said potash markets had reached their low point. miner Teck Resources Ltd TCKb.TO TCK.N reported a surprise quarterly profit as its costs declined. Teck, the largest producer of steelmaking coal in North America, said operating costs fell 15 percent to C$691 million ($525 million) in the second quarter. Reuters Corp TRI.N TRI.O reported flat quarterly revenue excluding currency effects and reaffirmed its full-year sales outlook. Energy Inc CVE.TO posted a smaller-than-expected quarterly loss, helped by its cost reduction efforts, and said about two-thirds of the costs it had cut since 2014-end would be "sustainable" even when oil prices recover. AT 7:30 a.m. ET COM/WRAP
Gold futures GCc1 : $1,341; +1.08 pct GOL/
US crude CLc1 : $41.91; -0.02 pct O/R
Brent crude LCOc1 : $43.26; -0.48 pct O/R
LME 3-month copper CMCU3 : $4,870.50; +0.42 pct MET/L
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Alaris Royalty Corp AD.TO : Haywood Securities cuts rating to "hold" from "buy"
Barrick Gold Corp ABX.TO : Canaccord Genuity raises rating to "buy" from "hold"
Western Energy Services Corp WRG.TO : TD Securities cuts price target to C$3.50 from C$4.25
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Advanced goods trade balance for Jun: Prior -$60.59 bln
0830 Initial Jobless Claims: Expected 260,000; Prior 253,000
0830 Jobless Claim 4-Weeks Average: Prior 257,750
0830 Continued jobless claims: Expected 2.130 mln; Prior 2.128 mln
1100 KC Fed Current production index for Jul: Prior 12
1100 KC Fed Composite Index for Jul: Prior 2
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