July 5 (Reuters) - Futures pointed to a higher opening for Canada’s main stock index on Thursday as oil prices rose due to potential disruptions to flows from Iran and the Middle East.
Crude prices had earlier dropped after U.S President Donald Trump demanded OPEC to cut prices. However, an Iranian threat to block shipments through the Strait of Hormuz, a major route for transporting crude in the Gulf, supported prices.
September futures on the S&P/TSX index were up 0.27 percent at 7:15 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index closed up 41.56 points, or 0.26 percent, at 16,304.72 on Wednesday.
Dow Jones Industrial Average e-mini futures were up 0.65 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.66 percent and Nasdaq 100 e-mini futures were up 0.73 percent.
Airbus Chief Executive Tom Enders said on Wednesday he expects to see the first results of the company’s new majority stake in Bombardier’s CSeries jetliner program within weeks, around the time of the Farnborough Air Show later this month.
Hudson’s Bay has agreed to sell about half of its European business to Austria’s Signa Holding in a deal that will bring together two major German department store chains, according to media reports on Wednesday.
Six more people have died in Montreal due to a heat wave, bringing to 12 the city’s total death toll from the extreme weather conditions that have gripped central and eastern Canada, health officials said on Wednesday.
ANALYST RESEARCH HIGHLIGHTS
Aecon Group Inc: CIBC saises to outperformer from neutral
Lucara Diamond Corp: Canaccord Genuity starts with buy rating; C$2.45 price target
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1254.2; rose 0.06 percent
US crude: $74.57; rose 0.58 percent
Brent crude: $78.35; rose 0.14 percent
LME 3-month copper: $6393; rose 0.11 percent
U.S. ECONOMIC DATA DUE ON THURSDAY
0815 ADP national employment for June: Expected 190,000; Prior 178,000
0830 Initial jobless claims for week ended June 30: Expected 225,000; Prior 227,000
0830 Jobless claims 4-week average for week eneded June 30: Prior 222,000
0830 Continued jobless claims for week ended June 23: Expected 1.720 mln; Prior 1.705 mln
0945 Markit Composite Final PMI for June: Prior 56.0
0945 Markit Services PMI Final for June: Prior 56.5
1000 ISM Non-Manufacturing PMI for June: Expected 58.3; Prior 58.6
1000 ISM Non-Manufacturing Business Activity for Jun: Expected 60.9; Prior 61.3
1000 ISM Non-Manufacturing Employment Index for June: Prior 54.1
1000 ISM Non-Manufacturing New Orders Index for June: Prior 60.5
1000 ISM Non-Manufacturing Price Paid Index for June: Prior 64.3
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Canadian markets directory ($1= C$1.32) (Reporting by Debanjan Bose in Bengaluru; Editing by Arun Koyyur) )
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