May 10 (Reuters) - Canada’s main stock index futures indicated a higher open on Tuesday following gains in global markets after Japan warned it was prepared to step in to weaken its currency.
June futures on the S&P TSX index were up 0.28 percent at 7:25 a.m. ET.
Canada’s main stock index fell to a nearly four-week low on Monday as lower commodity prices weighed on energy and mining stocks, while financials also fell.
Dow Jones Industrial Average e-mini futures were up 0.21 percent at 7:25 a.m. ET, while S&P 500 e-mini futures were up 0.21 percent and Nasdaq 100 e-mini futures were up 0.09 percent.
No major Canadian economic releases are scheduled for the day.
Repair crews were expected to assess wildfire damage to the Canadian energy boomtown of Fort McMurray as the oil sands companies surrounding the ravaged city looked at bringing production back on line.
Japanese oil refiner Idemitsu Kosan Co said on Tuesday its joint venture with Canada’s AltaGas would suspend a liquefied natural gas project in Canada for the foreseeable future due to low energy prices.
TMX Group Ltd, which owns and operates the Toronto Stock Exchange, posted a 9 percent rise in quarterly profit late on Monday, helped by lower operating expenses.
COMMODITIES AT 7:25 a.m. ET
Gold futures : $1,263.90; -0.13 pct
US crude : $43.33; -0.21 pct
Brent crude : $43.89; +0.60 pct
LME 3-month copper : $4,686.50; +0.01 pct
ANALYST RESEARCH HIGHLIGHTS
Athabasca Oil Corp : Canaccord Genuity raises rating to “buy” from “hold”
Lundin Mining Corp : Paradigm Capital raises target price to C$7.75 from C$6.50; rating “buy”
Raging River Exploration Inc : Desjardins raises target price to C$12 from C$11.50
U.S. ECONOMIC DATA DUE ON TUESDAY
1000 JOLTS job openings for Mar: Expected 5.431 mln; Prior 5.445 mln
1000 Wholesale inventories mm for Mar: Expected 0.1 pct; Prior -0.5 pct
1000 Wholesale sales mm for Mar: Expected 0.3 pct; Prior -0.2 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$1.30) (Reporting by Nikhil Kumar in Bengaluru; Editing by Maju Samuel)
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