Oct 19 (Reuters) - Futures for Canada’s main stock index were higher on Friday ahead of inflation data, supported by gains in energy shares as oil prices rose.
Oil prices rose on signs of surging demand in China, although the market was heading for a second week of losses on rising U.S. inventories and concern that trade wars were curbing economic activity.
December futures on the S&P/TSX index were up 0.21 percent at 7:01 a.m. ET.
Data on inflation and retail sales are due at 8:30 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX closed down 125.77 points, or 0.81 percent, at 15,404.13 in the previous session.
Dow Jones Industrial Average e-mini futures were up 0.28 percent at 7:07 a.m. ET, while S&P 500 e-mini futures were up 0.24 percent and Nasdaq 100 e-mini futures were up 0.44 percent.
Canadian media company Corus Entertainment Inc’s quarterly profit beat estimates on Friday, helped by lower restructuring and broadcasting costs.
Canadian telecom company Rogers Communications Inc reported a 17 percent rise in quarterly profit on Friday, helped by growth in its wireless and cable businesses.
Canada’s move to legalize recreational marijuana this week is unlikely to immediately trigger a flood of pot-fueled tourism, as tour operators and consumers are unsure about rules governing the brand new industry.
ANALYST RESEARCH HIGHLIGHTS
Canadian Pacific Railway Ltd: RBC raises price target to C$331 from C$329
Imperial Oil Ltd: Goldman Sachs raises rating to “buy” from “sell”
COMMODITIES AT 7:09 a.m. ET
Gold futures: $1228.5; rose 0.09 percent
US crude: $69.02; rose 0.54 percent
Brent crude: $79.92; rose 0.79 percent
U.S. ECONOMIC DATA DUE ON FRIDAY
1000 Existing home sales for Sep: Expected 5.30 mln; Prior 5.34 mln
1000 Existing home sales percentage change for Sep: Expected -0.7 pct; Prior 0.0 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 Sourav Bose in Bengaluru; Editing by Maju Samuel)
Our Standards: The Thomson Reuters Trust Principles.