March 8 (Reuters) - Canada's main stock index looked set to
open lower on Tuesday after another batch of weak data from
China stoked concerns about the health of the global economy.
Exports from the world's second-biggest economy tumbled 25.4
percent in February, compared with the same month last year,
while its imports dropped 13.8 percent.
March futures on the S&P TSX index SXFc1 were down 0.23
percent at 7:30 a.m. ET.
The Canadian Mortgage and Housing Corp releases housing
starts data at 8:30 a.m. ET. The seasonally adjusted annualized
rate of housing starts is expected to have increased to 180,000
units in February from 165,900 units in January ECONCA .
Separately, the value of Canadian building permits is
expected to have dropped 2.5 percent in January after rising
11.3 percent in December. The data is due at 8:30 a.m.
ET.
The Toronto Stock Exchange's S&P/TSX composite index rose on
Monday to a three-month high as mining and energy stocks gained
on the back of higher oil and gold prices, while industrial and
financial sector stocks also rallied.
Dow Jones Industrial Average e-mini futures 1YMc1 were
down 0.35 percent at 7:30 a.m. ET. S&P 500 e-mini futures Esc1
were down 0.43 percent and Nasdaq 100 e-mini futures NQc1 were
down 0.52 percent.
TOP STORIES
Canadian home services provider Enercare Inc ECI.TO said
its unit agreed to buy U.S-based SEHAC Holdings Corp (Service
Experts Heating & Air Conditioning) for $340.8 million,
excluding transaction costs, to expand in North America.
A major Canadian securities regulator on Monday ruled that
Corus Entertainment Inc CJRb.TO need not disclose more details
of its C$2.65 billion ($2 billion) proposal to buy media assets
from Shaw Communications Inc SJRb.TO , meaning a shareholder
vote due on Wednesday could proceed.
AT 7:30 a.m. ET gold futures GCc1 : $1,274.20; +0.87 pct
US crude CLc1 : $37.85; -0.11 pct
Brent crude LCOc1 : $40.89; +0.12 pct
LME 3-month copper CMCU3 : $4,964.50; -0.71 pct
ANALYST RESEARCH HIGHLIGHTS
Canadian Pacific Railway Ltd CP.TO : UBS raises target
price to C$196 from C$178; rating "buy"
Raging River Exploration RRX.TO : Canaccord Genuity ups
target price to C$11 from C$10.50; rating "buy"
Sabina Gold and Silver Corp SBB.TO : Canaccord Genuity
starts coverage with "speculative buy" rating
U.S. ECONOMIC DATA DUE ON TUESDAY
0855 Johnson Redbook Retail Sales Index mm: Prior -2.4 pct
0855 Johnson Redbook Retail Sales Index yy: Prior 0.6 pct
($1= C$1.33)