April 26 (Reuters) - Canada’s main stock index futures were little changed on Wednesday as oil prices slipped after data showed a rise in U.S. crude inventories.
Crude stockpiles rose 897,000 barrels in the week to April 21, according to the report, defying expectations of a fall of 1.7 million barrels. Data also showed a large build in gasoline stocks, unusual for this time of the year.
June futures on the S&P TSX index were up 0.03 percent at 7:25 a.m. ET.
Canadian Retail sales is due at 8.30 a.m. ET.
Canada’s main stock index notched a two-month high on Tuesday, led by gains for heavyweight financial and energy stocks, while shares of lumber companies rallied after new U.S. import duties on the product came out lower than some investors had expected.
Dow Jones Industrial Average e-mini futures were up 0.08 percent at 7:25 a.m. ET, while S&P 500 e-mini futures were down 0.08 percent and Nasdaq 100 e-mini futures up 0.04 percent.
The United States and Canada faced off on Tuesday in a renewed battle over softwood lumber that threatened to spill over into multiple other sectors, though President Donald Trump said he did not fear a trade war.
Canadian oil company Cenovus Energy Inc, reported a smaller-than-expected quarterly loss as operating costs fell, while oil sands production rose.
Barrick Gold gave details on Tuesday of $500 million worth of improvements and expansions it is planning at its Veladero mine in Argentina over the next five years, on a day when its stock price sank 11 percent on disappointing earnings.
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,265; - 0.08 pct
US crude: $49.25; -0.63 percent
Brent crude: $51.74; -0.69 percent
LME 3-month copper: $5706.5; -0.01 percent
ANALYST RESEARCH HIGHLIGHTS
AG Growth International: RBC raises target price to C$60 from C$58
Metro Inc: CIBC raises price target to C$48 from C$43
Parex Resources Inc: CIBC raises target price to C$21.50 from C$18.50
U.S. ECONOMIC DATA DUE ON WEDNESDAY
08:30 Building permits R number mm for Mar: Prior 1.260 mln
08:30 Building permits R change mm for Mar: Prior 3.6 pct
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Canadian markets directory ($1= C$1.36) (Reporting by Kishan Nair in Bengaluru; Editing by Anil D’Silva)
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