July 27, 2017 / 11:27 AM / in 3 months

CANADA STOCKS-Futures edge higher as commodity prices rise

July 27 (Reuters) - Stock futures pointed to a slightly higher opening for Canada’s main stock index on Thursday as commodity prices rose on dovish signals from the U.S. Federal Reserve.

September futures on the S&P TSX index were up 0.10 percent at 7:15 a.m. ET.

Canada’s main stock index slipped on Wednesday, as financial stocks fell after the U.S. Federal Reserve held its interest rates steady and as investors pulled back from Canadian National Railway and grocer Loblaw Cos after their earnings.

Dow Jones Industrial Average e-mini futures were up 0.13 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.19 percent and Nasdaq 100 e-mini futures were up 0.53 percent.

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TOP STORIES

Canada’s Potash Corp of Saskatchewan reported better-than-expected revenue on Thursday as it sold more potash at higher prices compared with last year.

Canadian oil and gas producer Crescent Point Energy Corp posted a quarterly profit, compared with a year-earlier loss, helped by higher realized oil prices and an increase in production.

Oil producer Cenovus Energy Inc on Thursday reported a profit in the second quarter compared to a year-ago loss, helped by its purchase of ConocoPhillips’ Canadian oil sands assets.

ANALYST RESEARCH HIGHLIGHTS

AGT Food and Ingredients Inc: Raymond James cuts price target to C$32 from C$35

First National Financial Corp: RBC cuts rating to “underperform” from “sector perform”

Prairiesky Royalty Ltd: GMP raises target price to C$31 from C$30

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,249; +0.0 pct

US crude: $48.54; -0.59 pct

Brent crude: $50.70; -0.53 pct

LME 3-month copper: $6,355; +0.41 pct

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Build permits R number mm for June: Prior 1.254 mln

0830 Build permits R changes mm for June: Prior 7.4 pct

0830 Durable goods for Jun: Expected 3 pct; Prior -0.8 pct

0830 Durables ex-transport for June: Expected 0.4 pct; Prior 0.3 pct

0830 Durables ex-defense mm for June: Prior -0.3 pct

0830 Nondefense cap ex-air for June: Expected 0.3 pct; Prior 0.2 pct

0830 Advanced goods trade balance for June: Prior -$66.30 bln

0830 Advanced wholesale inventory for June: Prior 0.4 pct

0830 Advanced retail inventory ex auto for June: Prior 0.2 pct

0830 Initial jobless claims: Expected 241,000; Prior 233,000

0830 Jobless claims 4-week average: Prior 243,750

0830 Continued jobless claims: Expected 1.950 mln; Prior 1.977 mln

0830 National Activity Index for Jun: Prior -0.26

1100 KC Fed Manufacturing for July: Prior 23

1100 KC Fed Composite Index for July: Prior 11

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$1.24) (Reporting by Riniki Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty)

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