December 13, 2017 / 12:34 PM / in a year

CANADA STOCKS-Futures rise with oil prices

Dec 13 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Wednesday as oil prices rose after industry data showed a larger-than-expected drawdown in U.S. crude stockpiles.

December futures on the S&P TSX index were up 0.1 percent at 7:15 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index inched higher on Tuesday, helped by gains among materials stocks and financial names, while lower oil prices weighed on energy companies.

Dow Jones Industrial Average e-mini futures were down 0.01 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.03 percent and Nasdaq 100 e-mini futures were up 0.1 percent.

The Thomson Reuters/Ipsos Primary Consumer Sentiment Index is due at 11:00 a.m. ET.

(Morning News Call newsletter tmsnrt.rs/2fwPLTh; The Day Ahead newsletter tmsnrt.rs/2ggOmBi)

TOP STORIES

The Ontario Securities Commission on Tuesday scheduled a hearing on CanniMed Therapeutics’ request to intervene in a hostile takeover bid by bigger rival Aurora Cannabis Inc on Dec. 20.

Opponents of TransCanada Corp’s proposed Keystone XL oil pipeline argued on Tuesday that regulators in Nebraska had no authority to approve the line’s “alternative” path through the state and that the project should be considered dead.

ANALYST RESEARCH HIGHLIGHTS

MTY Food Group Inc: TD Securities raises target price to C$49 from C$46

Advantage Oil & Gas Ltd: RBC cuts target price to C$8 from C$9; rating sector perform

Stelco Holdings Inc: Credit Suisse starts with “outperform” and a C$24 target price

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1239.8; +0.1 percent

US crude: $57.45; +0.54 percent

Brent crude: $63.69; +0.55 percent

LME 3-month copper: $6729.5; +1 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Core CPI mm, SA for Nov: Expected 0.2 pct; Prior 0.2 pct

0830 Core CPI yy, NSA for Nov: Expected 1.8 pct; Prior 1.8 pct

0830 CPI Index, NSA for Nov: Expected 246.805; Prior 246.663

0830 Core CPI Index, SA for Nov: Prior 253.43

0830 CPI mm, SA for Nov: Expected 0.4 pct; Prior 0.1 pct

0830 CPI yy, NSA for Nov: Expected 2.2 pct; Prior 2.0 pct

0830 Real weekly earnings mm for Nov: Expected 0.0 pct; Prior -0.1 pct

1100 Cleveland fed CPI for Nov: Prior 0.3 pct

1100 TR IPSOS PCSI for Dec: Prior 60.55

1400 Fed funds target rate: Expected 1.375 pct; Prior 1.125 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$1.29 Reporting By Nachiket Tekawade in Bengaluru; Editing by Savio D'Souza

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