(Updates with economic data)
July 22 (Reuters) - Canada's main stock index futures pointed to a higher start on Friday after retail sales data exceeded estimates.
Retail sales rose by 0.2 percent in May from April to hit a record C$44.28 billion ($33.80 billion), largely because of increases for food, drink and gasoline, Statistics Canada said.
Retail sales growth, ex-autos, at 0.9 percent came in much better than the forecast of 0.3 percent. inflation rate remained at 1.5 percent in June, staying below the Bank of Canada's 2 percent target for a fifth consecutive month, Statistics Canada data indicated. futures on the S&P TSX index SXFc1 were up 0.11 percent at 8:45 a.m. ET.
Canada's main stock index rose to an 11-month high on Thursday as mining stocks rallied and strong earnings reports boosted the shares of Rogers Communications Inc RCIb.TO and Encana Corp ECA.TO . Jones Industrial Average e-mini futures 1YMc1 were up 0.12 percent at 8:45 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.16 percent and Nasdaq 100 e-mini futures NQc1 were up 0.13 percent. .N
(Morning News Call newsletter http://link.reuters.com/nex49s; The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES TOP/CAN
Husky Energy Inc HSE.TO , Canada's No. 3 integrated oil company, reported a smaller-than-expected quarterly loss as the focus on fewer, more efficient resource plays helped reduce production costs. Pharmaceuticals International Inc VRX.TO VRX.N said on Friday that U.S. regulators have raised concerns over a new eye drop manufactured at a Bausch + Lomb facility in Florida. AT 8:45 a.m. ET COM/WRAP
Gold futures GCc1 : $1,330.70; +0.02 pct GOL/
US crude CLc1 : $44.90; +0.31 pct O/R
Brent crude LCOc1 : $46.39; +0.41 pct O/R
LME 3-month copper CMCU3 : $4,977.50; +0.03 pct MET/L
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Loblaw Cos Ltd L.TO : Barclays (LON:BARC) raises price target to C$78 from C$77
Rogers Communications Inc RCIb.TO : Canaccord Genuity raises price target to C$55 from C$50
Westjet Airlines Ltd WJA.TO : Raymond James raises price target to C$22.25 from C$20.50
U.S. ECONOMIC DATA DUE ON FRIDAY
0945 Markit Manufacturing PMI Flash for Jul: Expected 51.6; Prior 51.3
1030 ECRI Weekly Index: Prior 137.0
1030 ECRI weekly annualized: Prior 6.9 pct
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