April 27, 2016 / 11:27 AM / a year ago

CANADA STOCKS-Futures up as oil prices rise

3 Min Read

April 27 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Wednesday as oil prices touched their highest levels in 2016, driven by a falling dollar and evidence of declining U.S. supply.

June futures on the S&P TSX index were up 0.01 percent at 7:15 a.m. ET.

No major economic events are scheduled for the day.

Canada's benchmark stock index edged higher on Tuesday as a jump in oil prices supported energy stocks, while the materials group also advanced, offsetting deep losses for one of the country's major railway stocks.

Dow Jones Industrial Average e-mini futures were down 0.27 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.31 percent and Nasdaq 100 e-mini futures were down 1.14 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

Top Stories

Outgoing Valeant Pharmaceuticals Chief Executive Michael Pearson plans to tell a U.S. Senate panel on Wednesday that he regrets his decision to acquire and jack up the price of two life-saving heart drugs.

Canadian plane and train maker Bombardier Inc said on Tuesday it will be moving forward its first-quarter results by a day to Thursday, in a surprise announcement that only served to elevate market expectations of a big CSeries order this week.

Canadian oil producer Cenovus Energy Inc reported a smaller quarterly loss, helped by foreign exchange gains, and said it would cut its 2016 capital budget to help cope with a prolonged slump in oil prices.


Gold futures : $1,242.20; 0.00 pct

US crude : $44.96; +2.09 pct

Brent crude : $46.74; +2.21 pct

LME 3-month copper : $4,933.50; -0.57 pct

Analyst Research Highlights

Teck Resources Ltd : NBF raises to sector perform from underperform

Husky Energy : Barclays cuts target price to C$21 from C$22; rating overweight

Sun Life Financial Inc : CIBC raises target price to C$47 from C$44

u.s. Economic Data Due on Wednesday

0830 Advanced goods trade balance for Mar: Prior -62.86 bln

1000 Pending Homes Index for Mar: Prior 109.1

1000 Pending sales change mm for Mar: Expected 0.5 pct; Prior 3.5 pct

1400 Fed funds target rate: Expected 0.375 pct

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$1.26) (Reporting by Anjali James in Bengaluru; Editing by Maju Samuel)

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