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CANADA STOCKS-Stock futures fall as economy shrinks in Nov
January 30, 2015 / 1:58 PM / 3 years ago

CANADA STOCKS-Stock futures fall as economy shrinks in Nov

(Updates data, story)

Jan 30 (Reuters) - Stock futures pointed to a lower start for Canada’s main stock index on Friday after GDP data showed economy unexpectedly shrank 0.2 percent in November.

March futures on the S&P TSX index were down 0.56 percent at 8.45 a.m. ET.

Canada’s economy shrank on weaker manufacturing, mining and oil and gas extraction, Statistics Canada data indicated on Friday.

Dow Jones Industrial Average e-mini futures were down 0.92 percent at 8.45 a.m. ET, while S&P 500 e-mini futures were down 0.88 percent and Nasdaq 100 e-mini futures were down 0.47 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Greece’s new left-wing government will cancel plans to sell the state natural gas utility and is firmly opposed to a Canadian gold mine that is among the biggest foreign investment projects in the country, the energy minister told Reuters on Friday.

Bankrupt drugmaker Dendreon Corp has reached a stalking-horse deal with Canada’s Valeant Pharmaceuticals International Inc to sell the worldwide rights to its cancer vaccine, Provenge, and certain assets for $296 million.

Canadian Imperial Bank of Commerce is trimming its workforce as part of a realignment of its resources to help boost efficiency, the country’s fifth-biggest lender said on Thursday.

COMMODITIES AT 8.45 a.m. ET

Gold futures : $1,263.10; +0.73 pct

US crude : $44.66; +0.29 pct

Brent crude : $49.05; +0.16 pct

LME 3-month copper : $5,432.50; +0.70 pct

ANALYST RESEARCH HIGHLIGHTS

Wilan Inc : Paradigm cuts to “hold” from “buy”; cuts price target to C$4

Blackpearl Resources Inc : Paradigm raises to “buy” from “hold”

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 GDP Advance for Q4: Actual 2.6 pct; Prior 5.0 pct

0830 GDP sales advance for Q4: Actual -1.80 pct; Prior 5.0 pct

0830 GDP deflator advance for Q4: Actual -0.10 pct; Prior 1.4 pct

0830 Core PCE prices advance for Q4: Actual 1.10 pct; Prior 1.4 pct

0830 PCE prices advance for Q4: Actual -0.50 pct; Prior 1.2 pct

0830 Employment wages qq for Q4: Actual 0.50 pct; Prior 0.8 pct

0830 Employment benefits qq for Q4: Actual 0.60 pct; Prior 0.6 pct

0830 Employment costs for Q4: Actual 0.60 pct; Prior 0.7 pct

0945 Chicago PMI for Jan: Expected 57.5; Prior 58.3

1000 U Mich sentiment final for Jan: Expected 98.2; Prior 98.2

1000 U Mich conditions final for Jan: Expected 108.0; Prior 108.3

1000 U Mich expectations Final for Jan: Expected 91.5; Prior 91.6

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1= C$1.27) (Reporting by Abhinav Kaul in Bengaluru; Editing by Kirti Pandey)

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