December 23, 2015 / 12:42 PM / in 2 years

CANADA STOCKS-Futures rise ahead of growth data as oil extends gains

Dec 23 (Reuters) - Stock futures pointed to a higher start for Canada’s main stock index on Wednesday as crude prices extended gains for a third straight day.

Oil prices edged up after an unexpected fall in U.S. crude inventories, but remained not far above 11-year lows as supplies remain abundant and as OPEC lowered the demand outlook for its exports.

March futures on the S&P TSX index were up 0.91 percent at 7:30 a.m. ET.

Data on gross domestic product and retail sales is due at 8:30 a.m. ET.

Canada’s main stock index gained in low-volume trade on Tuesday, with rises in industrial, telecom and resource stocks offsetting the impact of subdued performance in some of the country’s biggest banks.

Dow Jones Industrial Average e-mini futures were up 0.51 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were up 0.38 percent and Nasdaq 100 e-mini futures were up 0.42 percent.

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

TOP STORIES

A C$460 million ($330.5 million) settlement fund for victims of the 2013 Lac-Megantic crude-by-rail disaster will begin disbursements this week without the participation of Canadian Pacific Railway Ltd, the monitor involved in the payments said on Tuesday.

COMMODITIES AT 7:30 a.m. ET

Gold futures : $1,072.70; -0.13 pct

US crude : $36.68; +1.47 pct

Brent crude : $36.64; +1.50 pct

LME 3-month copper : $4,690.50; +0.54 pct

ANALYST RESEARCH HIGHLIGHTS

Tourmaline Oil Corp : BMO cuts rating to “market perform” from “outperform”

Northern Blizzard Resources Inc : RBC starts coverage with “sector perform” rating

Newcastle Gold Ltd : M Partners resumes coverage with “buy” rating

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Personal consumption real mm for Nov: Prior 0.1 pct

0830 Personal income mm for Nov: Expected 0.2 pct; Prior 0.4 pct

0830 Consumption, adjusted mm for Nov: Expected 0.3 pct; Prior 0.1 pct

0830 Core PCE price index mm for Nov: Expected 0.1 pct; Prior 0.0 pct

0830 Core PCE price index yy for Nov: Prior 1.3 pct

0830 PCE price index mm for Nov: Prior 0.1 pct

0830 PCE price index yy for Nov: Prior 0.2 pct

0830 Durable goods for Nov: Expected -0.6 pct; Prior 2.9 pct

0830 Durables ex-transport for Nov: Expected 0.0 pct; Prior 0.5 pct

0830 Durables ex-defense mm for Nov: Expected -0.2 pct; Prior 3.1 pct

0830 Nondefense cap ex-air for Nov: Expected -0.1 pct; Prior 1.3 pct

1000 U Mich Sentiment Final for Dec: Expected 92.0; Prior 91.8

1000 U Mich Conditions Final for Dec: Expected 106.5; Prior 107.0

1000 U Mich Expectations Final for Dec: Expected 82.0; Prior 82.0

1000 U Mich 1 year inflation final for Dec: Prior 2.6 pct

1000 U Mich 5-year inflation final for Dec: Prior 2.6 pct

1000 New home sales-units mm for Nov: Expected 0.505 mln; Prior 0.495 mln

1000 New home sales change mm for Nov: Expected 2.0 pct; Prior 10.7 pct

1300 Dallas Fed PCE for Nov: Prior 1.3 pct

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$1.39) (Reporting by Nikhil Kumar in Bengaluru; Editing by Kirti Pandey)

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