June 29, 2016 / 11:27 AM / in a year

CANADA STOCKS-Futures up as Brexit shock recedes, oil rises

June 29 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index for the second day on Wednesday as the shock from Britain’s vote to leave the European Union petered out and oil prices rose as risk appetite increased.

September futures on the S&P TSX index were up 0.54 percent at 7:15 a.m. ET.

Canada’s main stock index scored its largest gain in seven weeks on Tuesday, recouping some of the losses inflicted in the prior two sessions after Britain’s shock vote to leave the European Union, as oil rallied and investors sought out bargains.

Dow Jones Industrial Average e-mini futures were up 0.62 percent at 7:15 a.m. ET on Wednesday, while S&P 500 e-mini futures were up 0.64 percent and Nasdaq 100 e-mini futures were up 0.72 percent.

No major economic events are scheduled for the day in Canada.

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

TOP STORIES

Canadian Imperial Bank of Commerce said it would buy Chicago-based PrivateBancorp Inc in a cash-and-stock deal valued at about $3.8 billion to offer its Canadian clients access to U.S. banking services.

Canadian hedge fund West Face Capital is pushing SNC-Lavalin Group Inc to sell its stake in Ontario’s 407 toll highway, a move that could fetch the engineering and construction company more than C$5 billion ($3.85 billion), according to two sources familiar with the process.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,317.00; +0.16 pct

US crude : $48.38; +1.09 pct

Brent crude : $49.11; +1.07 pct

LME 3-month copper : $4,796.00; -0.46 pct

ANALYST RESEARCH HIGHLIGHTS

Alaris Royalty Corp : RBC starts coverage with “sector perform” rating; C$31 target price

Precision Drilling Corp : Evercore ISI raises target price to C$8.00 from C$7.00

WSP Global Inc : CIBC cuts target price to C$42 from C$45

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Personal consumption real mm for May: Prior 0.6 pct

0830 Personal income mm for May: Expected 0.3 pct; Prior 0.4 pct

0830 Consumption, adjusted mm for May: Expected 0.4 pct; Prior 1.0 pct

0830 Core PCE price index mm for May: Expected 0.2 pct; Prior 0.2 pct

0830 Core Personal Consumption Expenditure price index yy for May: Prior 1.6 pct

0830 Personal Consumption Expenditure price index mm for May: Prior 0.3 pct

0830 Personal Consumption Expenditure price index yy for May: Prior 1.1 pct

1000 Pending Homes Index for May: Prior 116.3

1000 Pending sales change mm for May: Expected -1.1 pct; Prior 5.1 pct

1300 Dallas fed Personal Consumption Expenditure for May: Prior 2.5 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 = 1.2982 Canadian dollars) (Reporting by Riniki Sanyal in Bengaluru; Editing by Don Sebastian)

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