June 8, 2016 / 11:17 AM / a year ago

CANADA STOCKS-Futures up as oil hits eight-month high

3 Min Read

June 8 (Reuters) - Stock futures pointed to a slightly higher opening for Canada's main stock index on Wednesday as oil jumped to the highest level in eight months, buoyed by ongoing supply disruptions in Nigeria and strong Chinese oil demand data.

June futures on the S&P TSX index were up 0.08 percent at 7:15 a.m. ET.

House starts and building permits data is due later in the day.

Canada's main stock index extended its recent run to a more than nine-month high on Tuesday as oil and gas stocks jumped with buoyant crude prices and heavyweight financial stocks also rose.

Dow Jones Industrial Average e-mini futures were up 0.14 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.15 percent and Nasdaq 100 e-mini futures were up 0.09 percent.

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

Top Stories

Lululemon Athletica Inc's quarterly profit narrowly missed analysts' estimate due to higher costs, a week after its founder Chip Wilson criticized the Canadian yoga-wear retailer's leadership for failing to keep up with market trends.

Canadian oil and gas producer Suncor Energy Inc said it would raise C$2.5 billion through the sale of new shares to enable it to increase its stake in its Syncrude oil sands joint venture and to fund other possible acquisitions.


Gold futures : $1,252.90; +0.68 pct

US crude : $50.98; +1.23 pct

Brent crude : $52.12; +1.28 pct

LME 3-month copper : $4,587.00; +0.48 pct

Analyst Research Highlights

Parex Resources Inc : Paradigm Capital raises target price to C$15.50 from C$14

Suncor Energy Inc : Raymond James cuts price target to C$42 from C$43

u.s. Economic Data Due on Wednesday

1000 JOLTS job openings for Apr: Expected 5.672 mln; Prior 5.757 mln

1100 TR IPSOS PCSI for Jun: Prior 56.10

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$1.27) (Reporting by Riniki Sanyal in Bengaluru; Editing by Anil D'Silva)

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