May 11, 2016 / 11:52 AM / a year ago

CANADA STOCKS-Futures trade modestly higher on oil prices

3 Min Read

May 11 (Reuters) - Canada's main stock index futures were slightly firmer as oil prices reversed course to trade higher after falling nearly a percent.

June futures on the S&P TSX index were up 0.05 percent at 7:25 a.m. ET.

Canada's main stock index on Tuesday scored its largest gain since mid February as oil and global stocks rose, while Canada's oil sands production trickled back as the wildfire threat eased.

Dow Jones Industrial Average e-mini futures were down 0.21 percent at 7:25 a.m. ET, while S&P 500 e-mini futures were down 0.13 percent and Nasdaq 100 e-mini futures were down 0.15 percent.

Thomson Reuters/Ipsos Primary Consumer Sentiment Index data is due at 11:00 a.m. ET.

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Top Stories

Market participants are closely watching for the prospect of further restarts by Canadian oil sands producers near wildfire-ravaged Fort McMurray as some companies began slowly bringing operations back online.

Kinross Gold Corp reported lower-than-expected quarterly revenue as the world's fifth biggest gold miner struggled with lower realized gold prices.

Canada's InnVest Real Estate Investment said that it has entered into an agreement to be bought by Bluesky Hotels and Resorts.


Gold futures : $1,274.50; +0.84 pct

US crude : $44.73; -0.16 pct

Brent crude : $45.88; +0.79 pct

LME 3-month copper : $4,275.50; +0. pct

Analyst Research Highlights

Chinook Energy Inc : Raymond James cuts rating to "underperform" from "market perform"

Lundin Mining Corp : Paradigm Capital raises target price to C$7.75 from C$6.50; rating "buy"

Trinidad Drilling Ltd : TD Securities raises target price to C$2.75 from C$2.50; rating "buy"

u.s. Economic Data Due on Wednesday

1100 Thomson Reuters / Ipsos Primary Consumer Sentiment Index for May: Prior 55.5

1400 Federal budget for Apr: Expected $112.00 bln; Prior -$108.0 bln

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$1.29) (Reporting by Nikhil Kumar in Bengaluru; Editing by Maju Samuel)

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