(Adds economic data and Valeant and TransCanada results)
April 29 (Reuters) - Canada's main stock index was set to
open lower on Friday after data showed that the country's
economy stalled in February as activity in the manufacturing and
natural resource sectors slowed.
June futures on the S&P TSX index SXFc1 were up 0.04
percent at 8:45 a.m. ET.
Gross domestic product fell 0.1 percent in the month, as
expected, after increasing for four months in a row, data from
Statistics Canada showed on Friday.
Producer prices declined for the second month in a row in
March as a stronger Canadian dollar helped lower prices of
motorized and recreational vehicles, data showed.
Canada's main stock index edged slightly lower on Thursday
as losses for financials and other sectors offset gains for gold
miners and Bombardier Inc BBDb.TO after the company won a
large plane order.
Dow Jones Industrial Average e-mini futures 1YMc1 were
down 0.28 percent at 8:45 a.m. ET, while S&P 500 e-mini futures
ESc1 were down 0.29 percent and Nasdaq 100 e-mini futures
NQc1 were down 0.43 percent. .N
(Morning News Call newsletter http://link.reuters.com/nex49s;
The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES TOP/CAN
Beleaguered Canadian drugmaker Valeant Pharmaceuticals (NYSE:VRX)
International Inc VRX.TO filed its long-delayed annual report,
in which it identified misstatements that would reduce some of
its previously reported revenue.
A major CSeries order from Delta Air Lines (NYSE:DAL) DAL.N will
likely hold investor attention at Bombardier's BBDb.TO annual
meeting on Friday, overshadowing discord between the company's
founding family and disgruntled shareholders.
TransCanada Corp TRP.TO , the country's No.2 pipeline
operator, reported a better-than-expected quarterly profit,
helped by higher income from its Bruce nuclear power plant in
Ontario. AT 8:45 a.m. ET COM/WRAP
Gold futures GCc1 : $1,277.30; +0.93 pct GOL/
US crude CLc1 : $46.39; +0.76 pct O/R
Brent crude LCOc1 : $48.20; +0.10 pct O/R
LME 3-month copper CMCU3 : $5,025.50; +1.69 pct MET/L
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Bombardier BBDb.TO : CIBC raises target price to C$2.25
from C$1.60
Constellation Software CSU.TO : Barclays (LON:BARC) cuts target to
C$515 from C$565; rating "equal weight"
Loblaw Companies Ltd L.TO : Barclays raises target to C$77
from C$75; rating "overweight"
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Personal Consumption Expenditure real mm for Mar:
Actual 0.0 pct; Revised 0.3 pct
0830 Personal income mm for Mar: Actual 0.4 pct; Revised 0.1
pct
0830 Consumption, adjusted mm for Mar: Actual 0.1 pct;
Revised 0.2 pct
0830 Core PCE price index mm for Mar: Actual 0.1 pct;
Revised 0.2 pct
0830 Core PCE price index yy for Mar: Expected 1.6 pct;
Prior 1.7 pct
0830 PCE price index mm for Mar: Expected 0.1 pct; Prior
-0.1 pct
0830 PCE price index yy for Mar: Actual 0.8 pct; Prior 1.0
pct
0830 Employment wages qq for Q1: Actual 0.7 pct; Prior 0.5
pct
0830 Employment benefits qq for Q1: Actual 0.5 pct; Prior
0.6 pct
0830 Employment costs for Q1: Actual 0.6 pct; Prior 0.5 pct
0945 Chicago PMI for Apr: Expected 53; Prior 53.6
1000 U Mich Consumer Sentiment Index Final for Apr: Expected
90; Prior 89.7
1000 U Mich Conditions Final for Apr: Expected 106.0; Prior
105.4
1000 U Mich Expectations Final for Apr: Expected 80.2; Prior
79.6
1000 U Mich 1 year inflation final for Apr: Prior 2.7 pct
1000 U Mich 5-year inflation final for Apr: Prior 2.5 pct
1300 Dallas fed PCE for Mar: Prior 1.8 pct
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1
EPOLL/CA
Canadian markets directory CANADA
($1= C$1.25)