May 13, 2016 / 11:42 AM / 2 years ago

CANADA STOCKS-Oil prices weigh down futures

May 13 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Friday as a strengthening U.S. dollar ended a three-day bull run in oil.

June futures on the S&P TSX index were down 0.25 percent at 7:15 a.m. ET.

Canada’s main stock index ended flat on Thursday, with lower commodity prices weighing on miners, offsetting gains for most major banks and some energy companies trying to restart production after a raging wildfire.

Dow Jones Industrial Average e-mini futures were down 0.32 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.27 percent and Nasdaq 100 e-mini futures were down 0.28 percent.

No major Canadian economic releases are scheduled for the day.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Canadian Prime Minister Justin Trudeau will on Friday see the devastation caused by a wildfire that tore through the Alberta town of Fort McMurray and forced several oil sands operations to shut down.

Sirius XM Canada Holdings Inc said that Sirius XM Holdings Inc, its biggest shareholder, along with other shareholders would take the company private for about C$351 million ($273 million).

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,273.80; +0.28 pct

US crude : $46.08; -1.33 pct

Brent crude : $47.64; -0.92 pct

LME 3-month copper : $4,634.00; +0.46 pct

ANALYST RESEARCH HIGHLIGHTS

Alamos Gold Inc : CIBC raises target price to C$9.50 from C$8

Bird Construction Inc : Canaccord Genuity raises target price to C$13 from C$11; rating “hold”

Stantec : Raymond James raises rating to “outperform” from “market perform”

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 PPI final demand yy for Apr: Expected 0.2 pct; Prior -0.1 pct

0830 PPI final demand mm for Apr: Expected 0.3 pct; Prior -0.1 pct

0830 PPI ex food/energy yy for Apr: Expected 1.0 pct; Prior 1.0 pct

0830 PPI ex food/energy mm for Apr: Expected 0.1 pct; Prior -0.1 pct

0830 PPI ex food/energy/transport yy for Apr: Prior 0.9 pct

0830 PPI ex food/energy/transport mm for Apr: Prior 0.0 pct

0830 Retail sales mm for Apr: Expected 0.8 pct; Prior -0.4 pct

0830 Retail sales ex-autos mm for Apr: Expected 0.5 pct; Prior 0.1 pct

0830 Retail ex gas/autos for Apr: Prior 0.1 pct

0830 Retail control for Apr: Expected 0.3 pct; Prior 0.1 pct

1000 Business inventories mm for Mar: Expected 0.2 pct; Prior -0.1 pct

1000 U Mich Sentiment Preliminary for May: Expected 90; Prior 89.0

1000 U Mich Conditions Preliminary for May: Expected 106.5; Prior 106.7

1000 U Mich Expectations Preliminary for May: Expected 78.1; Prior 77.6

1000 U Mich 1 year inflation preliminary: Prior 2.8 pct

1000 U Mich 5 year inflation preliminary: Prior 2.5 pct

1030 ECRI Weekly Index: Prior 135.7

1030 ECRI weekly annualized: Prior 5.4 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$1.29) (Reporting by Nikhil Kumar in Bengaluru; Editing by Maju Samuel)

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