Feb 4 (Reuters) - Canada's main stock index looked set to
open moderately lower on Thursday as Brent crude prices turned
lower, pressured by scepticism that Venezuela's efforts to lobby
crude producers for output cuts would succeed.
March futures on the S&P TSX index SXFc1 were down 0.04
percent at 7:15 a.m. ET.
No major economic events are scheduled for the day.
The Toronto Stock Exchange's S&P/TSX composite index rose on
Wednesday as strength in commodity prices supported energy and
mining stocks, while shares in home retailer Rona Inc RON.TO
almost doubled after a generous takeover deal.
Dow Jones Industrial Average e-mini futures 1YMc1 were up
0.21 percent at 7:15 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 0.17 percent.
TOP STORIES
Suncor Energy Inc SU.TO , Canada's largest oil and gas
company, reported a fourth-quarter operating loss and cut 2016
capital spending plans on Wednesday because of the collapse in
global crude prices.
Oil sands producer MEG Energy Corp MEG.TO posted a
bigger-than-expected quarterly loss and cut its capital spending
estimate for 2016 by nearly 50 percent to counter a prolonged
slump in crude oil prices.
AT 7:15 a.m. ET Gold futures GCc1 : $1,146.50; +0.46 pct
US crude CLc1 : $32.44; +0.50 pct
Brent crude LCOc1 : $34.87; -0.49 pct
LME 3-month copper CMCU3 : $4,658.00; +0.47 pct
ANALYST RESEARCH HIGHLIGHTS
ATS Automation Tooling Systems ATA.TO : Canaccord Genuity
cuts target price to C$14; rating "buy"
Canadian Tire Corp CTCa.TO : NBF cuts target price to C$128
from C$135; rating "sector perform"
Rona Inc RON.TO : Barclays (L:BARC) raises rating to "equal weight"
from "underweight"
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Initial jobless claims: Expected 280,000; Prior 278,000
0830 Jobless claims 4-week average: Prior 283,000
0830 Continued jobless claims: Expected 2.240 mln;Prior
2.268 mln
0830 Labor costs preliminary for Q4: Expected 3.9 pct; Prior
1.8 pct
0830 Productivity preliminary for Q4: Expected -1.8 pct;
Prior 2.2 pct
1000 Durables ex-defense, R mm for Dec: Prior -2.9 pct
1000 Durable goods, R mm for Dec: Prior -5.1 pct
1000 Factory orders mm for Dec: Expected -2.8 pct; Prior
-0.2 pct
1000 Durables ex-transport R mm for Dec: Prior -1.2 pct
1000 Nondefense cap ex-air R mm for Dec: Prior -4.3 pct
1000 Factory ex-transport mm for Dec: Prior -0.3 pct
($1= C$1.37)