June 6, 2018 / 11:41 AM / 6 months ago

CANADA STOCKS-TSX futures flat as oil steadies

June 6 (Reuters) - Futures for Canada’s main stock index were little changed on Wednesday as early gains in oil prices were capped by reports that the U.S. government had asked some producers to increase output.

June futures on the S&P/TSX index were down 0.01 percent at 7:20 a.m. ET.

Building permits and trade balance data for April are due at 08:30 a.m. ET.

Oil prices steadied on Wednesday after Venezuela raised the prospect of a halt to some crude exports, easing worries about oversupply after reports that the U.S. government had asked Saudi Arabia and some other producers to increase output.

The Toronto Stock Exchange’s S&P/TSX rose 70.01 points, or 0.44 percent, to 16,122.25, on Tuesday.

Dow Jones Industrial Average e-mini futures were up 0.35 percent at 7:20 a.m. ET, while S&P 500 e-mini futures were up 0.15 percent and Nasdaq 100 e-mini futures were up 0.08 percent.

TOP STORIES

Air China Ltd and Air Canada signed a joint venture agreement to increase the commercial cooperation on flights between the two countries, both airlines said.

Latvia-based AirBaltic hastened a deal for Bombardier CSeries planes before Airbus formally takes over the Canadian planemaker because it was worried about securing the right delivery slots, the carrier’s chief executive said.

ANALYST RESEARCH HIGHLIGHTS

Canadian Imperial Bank Of Commerce: Citigroup raises price target to C$130 from C$125

Hudson’s Bay Co: National Bank Of Canada raises target price to C$11 from C$10

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1299.5; fell 0.21 percent

US crude: $65.13; fell 0.6 percent

Brent crude: $75.33; fell 0.07 percent

LME 3-month copper: $7164.5; rose 0.92 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 International trade for Apr: Expected -$49.0 bln; Prior -$49.0 bln

0830 Goods trade balance (R) for Apr: Prior -$68.19 bln

0830 Labor costs revised for Q1: Expected 2.8 pct; Prior 2.7 pct

0830 Productivity revised for Q1: Expected 0.6 pct; Prior 0.7 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 Debanjan Bose in Bengaluru; Editing by Saumyadeb Chakrabarty)

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