Oct 18 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Wednesday as oil prices rose on an expected fall in U.S. inventories and geopolitical tensions around oil-rich Iraq and Iran.
December futures on the S&P TSX index were up 0.11 percent at 7:15 a.m. ET.
Manufacturing sales data for August is due at 08:30 a.m. ET.
Canada’s main stock index inched higher on Tuesday, helped by a rise in Bombardier Inc shares and financial stocks.
Dow Jones Industrial Average e-mini futures were up 0.30 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.07 percent and Nasdaq 100 e-mini futures were up 0.09 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Boeing Co said on Tuesday that Bombardier Inc’s CSeries jets could still be hit with high U.S. import duties, even if they are assembled in Alabama through an industry-changing deal with Airbus.
Canada’s Corus Entertainment Inc reported a better-than-expected profit on Wednesday as the media company benefited from cost savings.
Canada’s oil sands producers are stuck in a rut. The nation’s oil firms are retrenching, with large producers planning little or no further expansion and some smaller projects struggling even to cover their operating costs.
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,270.7; -0.29 pct
US crude: $52.39; +0.42 pct
Brent crude: $58.85; +0.51 pct
LME 3-month copper: $7,059.50; -0.16 pct
ANALYST RESEARCH HIGHLIGHTS
Canadian Pacific Railway: National Bank of Canada ups target price to C$226
GDI Integrated Facility Services: Desjardins starts with buy rating
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Building permits: number for Sep: Expected 1.245 mln; Prior 1.272 mln
0830 Build permits: change mm for Sep: Prior 3.4 pct
0830 Housing starts number mm for Sep: Expected 1.180 mln; Prior 1.180 mln
0830 House starts mm: change for Sep: Prior -0.8 pct
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$1= C$1.24 Reporting by Pradip Kakoti in Bengaluru; Editing by Anil D’Silva
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