(Updates with GDP data)
May 31 (Reuters) - Canada stock futures inched higher on Tuesday after data showed that economic growth picked up in the first quarter.
While, gross domestic product grew at a slower-than-forecast 2.4 percent annualized rate in the quarter it marked a rebound from a downwardly revised 0.5 percent in the fourth quarter. futures on the S&P TSX index SXFc1 were up 0.18 percent at 8:45 a.m. ET.
Canada's main stock index edged lower on Monday as energy stocks retreated ahead of a meeting of oil producers later in the week, while mining stocks and financials also fell in a low-volume session. Jones Industrial Average e-mini futures 1YMc1 were up 0.16 percent at 8:45 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.10 percent and Nasdaq 100 e-mini futures NQc1 were up 0.14 percent. .N
(Morning News Call newsletter http://link.reuters.com/nex49s; The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES TOP/CAN
Canada's economy picked up slightly less than expected in the first quarter, growing at a 2.4 percent annualized pace as exports made gains, data from Statistics Canada showed. of Nova Scotia BNS.TO said provisions for bad loans increased by 40 percent in the second quarter, compared with the previous quarter, driven primarily by exposure to the energy sector. Australian mining veteran who made investors billions with a shrewd bet on coal in Mozambique is aiming for another big score with Canada's Champion Iron CIA.AX CIA.TO , even as a global gush of new supply threatens to depress already slumping prices. AT 8:45 a.m. ET COM/WRAP
Gold futures GCc2 : $1,211.00; -0.35 pct GOL/
US crude CLc1 : $49.54; +0.41 pct O/R
Brent crude LCOc1 : $49.50; -0.52 pct O/R
LME 3-month copper CMCU3 : $4,673.00; -0.47pct MET/L
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Ensign Energy Services Inc ESI.TO : Raymond James raises rating to "market perform"
Toronto-Dominion Bank TD.TO : KBW raises target price to C$56 from C$52
Western Energy Services Corp WRG.TO : Raymond James raises rating to "outperform"
U.S. ECONOMIC DATA RELEASED ON TUESDAY
0830 Personal consumption real mm for Apr: Actual +0.6%; Prior 0.0 pct
0830 Personal income mm for Apr: Actual +0.4 pct; Prior 0.4 pct
0830 Consumption, adjusted mm for Apr: Actual +1.0 pct; Revised 0.0 pct
0830 Core PCE Price Index mm for Apr: Actual +0.2 pct; Prior 0.1 pct
0830 Core PCE Price Index yy for Apr: Actual +1.6%; Prior 1.6 pct
0830 PCE Price Index mm for Apr: Actual 0.3% Prior 0.1 pct
0830 PCE Price Index yy for Apr: Actual +1.1%; Prior 0.8 pct
U.S. ECONOMIC DATA DUE ON TUESDAY
0945 Chicago PMI for May: Expected 50.9; Prior 50.4
1000 Consumer Confidence for May: Expected 96; Prior 94.2
1030 Dallas Fed Manufacturing Business Index for May: Prior -13.9
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$1.30)