July 7, 2016 / 11:37 AM / a year ago

CANADA STOCKS-Oil prices support slightly higher opening

3 Min Read

July 7 (Reuters) - Stock futures pointed to a modestly higher opening for Canada's main stock index on Thursday as oil prices rose on a report of another fall in U.S. crude oil inventories and a weaker dollar.

September futures on the S&P TSX index were up 0.06 percent at 7:15 a.m. ET.

Building permits data is due at 8:30 a.m. ET and Ivey Purchasing Managers Index for June is scheduled for release at 10:00 a.m. ET.

Canada's benchmark stock index eked out a gain on Wednesday, helped by a surge in Valeant Pharmaceuticals, a rebound in oil prices that boosted energy stocks, and continued strength in gold miners as bullion extended a run that has pushed it to a two-year high.

Dow Jones Industrial Average e-mini futures were down 0.04 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.07 percent and Nasdaq 100 e-mini futures were down 0.03 percent.

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

Top Stories

Bombardier Inc is under less pressure to ink new orders for its CSeries jet at a major European air show next week after receiving orders from Delta Air Lines and Air Canada, a senior executive said on Wednesday.

Canadian natural gas developer Seven Generations Energy Ltd said it would buy some of Paramount Resources Ltd's Deep Basin oil and gas properties in west Central Alberta for about C$1.9 billion ($1.47 billion), including debt.

Dominion Diamond Corp , Canada's biggest publicly traded diamond miner, is keeping an eye out for acquisitions in Canada where some prospects are "very encouraging," its Chief Executive Brendan Bell said on Wednesday.


Gold futures : $1,361.10; -0.28 pct

US crude : $47.96; +1.10 pct

Brent crude : $49.30; +1.02 pct

LME 3-month copper : $4,748.00; -0.06 pct

Analyst Research Highlights

Acadian Timber Corp : Raymond James raises rating to "strong buy" from "outperform"

Canadian Utilities Ltd : BMO raises target price to C$40 from C$36

Enbridge Inc : BMO raises target price to C$58 from C$55

u.s. Economic Data Due on Thursday

0815 ADP total nonfarm private employment for Jun: Expected 159,000; Prior 173,000

0830 Initial jobless claims: Expected 270,000; Prior 268,000

0830 Jobless claims 4-week average: Prior 266,750

0830 Continued jobless claims: Expected 2.113 mln; Prior 2.120 mln

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 Sriraj Kalluvila)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below