December 5, 2019 / 12:58 PM / 7 months ago

CANADA STOCKS-TSX futures rise as oil prices gain

Dec 5 (Reuters) - Canada’s main stock index futures rose on Thursday, helped by gains in oil prices ahead of an OPEC meeting where members are expected to agree on increasing production cuts.

December futures on the S&P/TSX index were up 0.17% at 7:00 a.m. ET.

Canada’s trade balance data is due at 08:30 a.m ET and Ivey Purchasing Managers Index data is due at 10:00 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index closed up 0.03% at 16,897.34 on Wednesday.

Dow Jones Industrial Average e-mini futures were up 0.39% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.37% and Nasdaq 100 e-mini futures were up 0.48%.

TOP STORIES

TD Bank Group reported a 3.5% fall in fourth-quarter profit on Thursday, as Canada’s second-biggest lender by market value was hurt by higher provisions for loan losses and a restructuring charge.

Canadian Imperial Bank of Commerce reported quarterly profit that fell short of analysts’ estimates, hurt by higher provision for bad loans and slower growth at its domestic banking business.

Caltex Australia’s top executives said they would work with a Canadian suitor to elicit a higher takeover offer after earlier rejecting its A$8.61 billion ($5.84 billion) approach for the petrol pump and convenience store operator.

ANALYST RESEARCH HIGHLIGHTS

Dollarama Inc: National Bank of Canada cuts target price to C$51 from C$52

National Bank of Canada: Canaccord Genuity raises target price to C$72.50 from C$68.50

Royal Bank of Canada: Scotiabank cuts target price to C$114 from C$117

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1477.2; -0.02 percent

US crude: $58.76; +0.56 percent

Brent crude: $63.66; +1.05 percent

U.S. ECONOMIC DATA DUE ON THURSDAY

0730 Challenger layoffs for Nov: Prior 50,275

0830 International trade for Oct: Expected -$48.7 bln; Prior -$52.5 bln

0830 Goods trade balance (R) for Oct: Prior -$66.53 bln

0830 Initial jobless claims : Expected 215,000; Prior 213,000

0830 Jobless claims 4-week average : Prior 219,750

0830 Continued jobless claims : Expected 1.650 mln; Prior 1.640 mln

1000 Durables ex-defense, R mm for Oct: Prior 0.1%

1000 Durable goods, R mm for Oct: Prior 0.6%

1000 Factory orders mm for Oct: Expected 0.3%; Prior -0.6%

1000 Durables ex-transport R mm for Oct: Prior 0.6%

1000 Nondefense cap ex-air R mm for Oct: Prior 1.2%

1000 Factory ex-transport mm for Oct: Prior -0.1%

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

Reporting by Siddharth Athreya V; Editing by Arun Koyyur

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