February 25, 2016 / 12:42 PM / a year ago

CANADA STOCKS-TSX set to open up as oil prices pare losses

3 Min Read

Feb 25 (Reuters) - Canada's main stock index was poised to open marginally higher on Thursday as oil prices moved off their session low.

March futures on the S&P TSX index were up 0.27 percent at 7:15 a.m. ET.

Canada's main stock index fell to a one-week low on Wednesday as weaker-than-expected bank earnings dragged down financial stocks, but higher crude oil prices helped pare some of the losses, providing support for energy stocks.

Dow Jones Industrial Average e-mini futures were up 0.24 percent at 7:15 a.m. ET. S&P 500 e-mini futures were up 0.23 percent and Nasdaq 100 e-mini futures were up 0.23 percent.

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

Top Stories

Canadian Imperial Bank of Commerce posted a first-quarter profit that topped market expectations, helped by growth in its retail and business banking division.

Toronto Dominion Bank reported a rise in first-quarter profit as growth at its U.S. retail banking business helped offset weakness in capital markets.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,236.50; -0.18 pct

US crude : $32.13; -0.06 pct

Brent crude : $34.25; -0.46 pct

LME 3-month copper : $4,645.00; +0.06 pct

Analyst Research Highlights

Bombardier Inc : Goldman Sachs reinstated coverage with a "neutral" rating; C$1.26 price target

Hudbay Minerals Inc : Canaccord Genuity raised its target to C$5 from C$4; rating "buy"

Loblaw Companies Ltd : Barclays cut its target to C$75 from C$76; rating "overweight"

u.s. Economic Data Due on Thursday

0830 Durable goods for Jan: Expected 2.5 pct; Prior -5.0 pct

0830 Durables ex-transport for Jan: Expected 0.2 pct; Prior -1.0 pct

0830 Durables ex-defense mm for Jan: Prior -2.8 pct

0830 Nondefense cap ex-air for Jan: Expected 1.0 pct; Prior -4.3 pct

0830 Initial jobless claims: Expected 270,000; Prior 262,000

0830 Jobless claims 4-week average: Prior 273,250

0830 Continued jobless claims: Expected 2.260 mln; Prior 2.273 mln

0900 Monthly home price mm for Dec: Prior 0.5 pct

0900 Monthly home price yy for Dec: Prior 5.9 pct

0900 Monthly Home Price Index for Dec: Prior 228.8

1100 KC Fed Manufacturing for Feb: Prior -8

1100 KC Fed Composite Index for Feb: Prior -9

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$1.37) (Reporting by Nikhil Kumar in Bengaluru; Editing by Savio D'Souza)

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