Feb 26 (Reuters) - Canada's main stock index looked set to
follow global markets higher as oil prices rose and investors
focused on a meeting of G-20 leaders that kicked off in Shanghai
on Friday.
China reassured global finiancial leaders at the meeting
that it would not devalue its currency again but look at other
means to support its economy.
Oil prices gained more than 1 percent as hopes of OPEC
action outweighed concerns over fundamental oversupply. O/R
March futures on the S&P TSX index SXFc1 were up 0.67
percent at 7:15 a.m. ET.
Investors will also focus on U.S. fourth-quarter GDP
numbers, due at 8:30 a.m. ET.
Canada's main stock index notched a small gain on Thursday
as two major banks rose after reporting quarterly numbers, while
energy stocks weighed despite a late rally in crude prices.
Dow Jones Industrial Average e-mini futures 1YMc1 were up
0.46 percent at 7:15 a.m. ET. S&P 500 e-mini futures Esc1 were
up 0.46 percent and Nasdaq 100 e-mini futures NQc1 were up
0.54 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, posted a smaller-than-expected quarterly loss as cost
cuts help cushion the impact from slumping crude oil prices.
Auto parts maker Magna International Inc MG.TO MGA.N
reported a rise in quarterly sales, excluding the impact of a
strong U.S. dollar, helped by healthy demand in Europe and North
America.
Goldcorp Inc G.TO , the world's largest gold producer by
market value, forecast 2016 gold production of 2.8-3.1 million
ounces, lower than its 2015 output, and reduced its dividend.
AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1,233.30; -0.40 pct GOL/
US crude CLc1 : $33.29; +0.64 pct O/R
Brent crude LCOc1 : $35.60; +0.82 pct O/R
LME 3-month copper CMCU3 : $4,678.00; +1.67 pct MET/L
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Goldcorp Inc G.TO : Canaccord Genuity cuts target price to
C$21.5 from C$23.5; rating "hold"
Loblaw Companies Ltd L.TO : RBC cuts target price to C$76
from C$78; rating "sector perform"
Stantec Inc STN.TO : RBC cuts target price to C$34 from
C$37
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Advanced goods trade balance for Jan: Prior -61.50 bln
0830 GDP 2nd estimate for Q4: Expected 0.4 pct; Prior 0.7
pct
0830 GDP sales preliminary for Q4: Expected 1.1 pct; Prior
1.2 pct
0830 GDP Cons spending preliminary for Q4: Prior 2.2 pct
0830 GDP deflator preliminary for Q4: Expected 0.8 pct;
Prior 0.8 pct
0830 Core PCE prices preliminary for Q4: Expected 1.2 pct;
Prior 1.2 pct
0830 PCE prices preliminary for Q4: Expected 0.1 pct; Prior
0.1 pct
1000 Personal consumption real mm for Jan: Prior 0.1 pct
1000 Personal income mm for Jan: Expected 0.4 pct; Prior 0.3
pct
1000 Consumption, adjusted mm for Jan: Expected 0.3 pct;
Prior 0.0 pct
1000 Core PCE price index mm for Jan: Expected 0.2 pct;
Prior 0.0 pct
1000 Core PCE price index yy for Jan: Prior 1.4 pct
1000 PCE price index mm for Jan: Prior -0.1 pct
1000 PCE price index yy for Jan: Prior 0.6 pct
1000 U Mich Sentiment Final for Feb: Expected 91.0; Prior
90.7
1000 U Mich Conditions Final for Feb: Expected 105.8; Prior
105.8
1000 U Mich Expectations Final for Feb: Expected 80.8; Prior
81.0
1000 U Mich 1 year inflation final for Feb: Prior 2.5 pct
1000 U Mich 5-year inflation final for Feb: Prior 2.4 pct
1030 ECRI Weekly Index: Prior 128.6
1030 ECRI Weekly Annualized: Prior -3.1 pct
1300 Dallas Fed PCE for Jan: Prior 0.9 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$1.35)