May 25, 2016 / 11:42 AM / a year ago

CANADA STOCKS-Futures higher as oil nudges $50 per barrel

May 25 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Wednesday as oil prices rose towards $50 per barrel on expectations of shrinking supply due to well fires in Canada and other outages.

June futures on the S&P TSX index were up 0.47 percent at 7:15 a.m. ET.

Bank of Canada rate decision is due at 10:00 a.m. ET .

Canada’s main stock index closed higher on Tuesday as strength in the financial sector ahead of the bank earnings season helped overcome a slump in shares of gold miners.

Dow Jones Industrial Average e-mini futures were up 0.34 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.35 percent and Nasdaq 100 e-mini futures were up 0.40 percent.

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

TOP STORIES

The Securities and Exchange Commission is concerned about the way Canadian drugmaker Valeant Pharmaceuticals International Inc has been disclosing its “non-GAAP” financial measures, regulatory filings showed on Tuesday.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,221.60; -0.62 pct

US crude : $49.13; +1.07 pct

Brent crude : $49.18; +1.17 pct

LME 3-month copper : $4,617.00; +0.35 pct

ANALYST RESEARCH HIGHLIGHTS

Saputo : National Bank Financial raises target price to C$42 from C$38

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Advance goods trade balance for Apr: Prior -$56.90 bln

0900 Monthly home price mm for Mar: Prior 0.4 pct

0900 Monthly home price yy for Mar: Prior 5.6 pct

0900 Monthly Home Price Index for Mar: Prior 231.4

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$1.31 Reporting by Nivedita Balu in Bengaluru; Editing by Anil D'Silva

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