CANADA STOCKS-Futures trade higher as oil climbs after IEA data

Thu May 12, 2016 7:52am EDT
 
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May 12 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Thursday, tracking gains in oil prices after the International Energy Agency (IEA) raised its 2016 global oil demand forecast.

June futures on the S&P TSX index were up 0.67 percent at 7:30 a.m. ET.

Oil prices rose towards six-month highs, supported by data from IEA showing tightening supply in addition to a surprise drop in U.S. crude inventories.

Housing Price Index is scheduled for release at 8:30 a.m. ET .

Canada's main stock index edged higher on Wednesday, led by the energy and materials groups after a drop in oil inventories pushed crude higher and gold rebounded from nearly two-week lows.

Dow Jones Industrial Average e-mini futures were up 0.44 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were up 0.57 percent and Nasdaq 100 e-mini futures were up 0.59 percent.

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

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