April 2, 2019 / 11:30 AM / 6 months ago

CANADA STOCKS-TSX futures flat; oil hits 2019 high

April 2 (Reuters) - Stock futures for Canada’s main stock index were little changed on Tuesday after kicking off the second quarter on an upbeat note in the previous session.

Crude prices hit a 2019 high above $69 a barrel on the prospect that more sanctions against Iran and further Venezuelan disruptions could deepen an OPEC-led supply cut, and as the market became less worried that demand may slow.

June futures on the S&P/TSX index were up 0.03 percent at 7:00 a.m. ET.

The Toronto Stock Exchange S&P/TSX composite index closed up 125.97 points, or 0.78 percent, at 16,228.06 on Monday.

Dow Jones Industrial Average e-mini futures were up 0.01 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.03 percent and Nasdaq 100 e-mini futures were up 0.01 percent.

TOP STORIES

Bank of Canada Governor Stephen Poloz expressed guarded optimism on Monday that the country would emerge from a soft patch, but maintained a cautious tone overall, saying the economic outlook still warrants an interest rate below the neutral range.

Canadian Prime Minister Justin Trudeau’s insistence that there is little wrong with how he is handling the worst crisis of his tenure is frustrating lawmakers and senior party figures who believe the approach could cost him re-election this October.

Australian cobalt developer Jervois Mining on Tuesday said it would buy out Canada-based Ecobalt Solutions Inc , for C$57.6 million, to expand its geographical footprint into the United States.

ANALYST RESEARCH HIGHLIGHTS

Corus Entertainment Inc: RBC raises target price to C$7.50 from C$7

Roots Corp: Canaccord Genuity cuts target price to C$5 from C$6

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1289.4; -0.14 percent

US crude: $62.06; +0.76 percent

Brent crude: $69.21; +0.29 percent

U.S. ECONOMIC DATA DUE ON TUESDAY

0830 Durable goods for Feb: Expected -1.8 pct; Prior 0.3 pct

0830 Durables ex-transport for Feb: Expected 0.2 pct; Prior -0.2 pct

0830 Durables ex-defense mm for Feb: Expected 0.1 pct; Prior 0.7 pct

0830 Nondefense cap ex-air for Feb: Expected 0.0 pct; Prior 0.8 pct

0945 ISM-New York Index for Mar: Prior 860.7

0945 ISM New York Business Conditions for Mar: Prior 61.1

1530 Domestic car sales for Mar: Expected 3.81 mln; Prior 3.65 mln

1530 Total vehicle sales for Mar: Expected 16.80 mln; Prior 16.57 mln

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$1.33) (Reporting by Nayyar Rasheed in Bengaluru; Editing by Maju Samuel)

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