CANADA STOCKS-TSX futures rise on higher oil prices

Thu May 11, 2017 7:31am EDT
 
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May 11 (Reuters) - Canada's main stock index futures were slightly higher on Thursday as oil prices rose after a fall in U.S. inventories and a bigger-than-expected cut in Saudi supplies to Asia helped tighten the market.

However, a downgrade of Canadian banks by ratings agency Moody's is likely to weigh on investor sentiment.

Moody's Investor Service on Wednesday downgraded the long-term ratings for six Canadian banks, citing a more challenging operating environment for banks in Canada for 2017 and beyond.

June futures on the S&P TSX index were up 0.04 percent at 7:15 a.m. ET.

Canada's main stock index rose on Wednesday as higher oil prices supported energy shares, while insurer Sun Life Financial Inc and exchange operator TMX Group Ltd fell after reporting earnings that failed to impress investors.

Statistics Canada's New House Price Index is scheduled for release at 8:30 a.m. ET.

Dow Jones Industrial Average e-mini futures were down 0.11 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.17 percent and Nasdaq 100 e-mini futures were down 0.2 percent.

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