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CANADA STOCKS-TSX futures gain on stronger oil prices

July 6 (Reuters) - Canadian stock futures gained on Monday, helped by higher Brent crude oil prices, with investors pinning hopes on a revival in Chinese activity to boost global economic growth.

While Brent crude edged higher, U.S. benchmark WTI futures dropped on concerns that a spike in cases of the novel coronavirus could curb demand in the United States.

September futures on the S&P/TSX index were up 1.21% at 7:00 a.m. ET (1100 GMT).

Data for Canada’s total reserve assets for June is due at 8:15 a.m. ET.

On Friday, the Toronto Stock Exchange’s S&P/TSX composite index ended 0.16% lower at 15,586.75

The Dow Jones Industrial Average e-mini futures were up 1.43% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 1.14% and Nasdaq 100 e-mini futures were up 1.16%.

TOP STORIES

- Britain’s Cineworld said it plans to make a counter-claim against Cineplex for damages and losses following a failed acquisition.

ANALYST RESEARCH HIGHLIGHTS

- Precision Drilling Corp: Evercore ISI cuts target price to C$1 from C$1.25

- Ensign Energy Services Inc: Everore ISI cuts target price to C$0.50 from C$1

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,784.6; -0.3%

US crude: $40.69; +0.1%

Brent crude: $43.33; +1.24%

U.S. ECONOMIC DATA DUE ON MONDAY 09.45 Markit Composition Final PMI for Jun: Prior 46.8 09.45 Markit Service PMI Final for Jun: Prior 46.7 10.00 Employment Trends for Jun: Prior 46.28 10.00 ISM N-Manufacturing PMI for Jun: Expected 50.0; Prior 45.4 10.00 ISM N-Manufacturing Business Activity for Jun: Expected 50.0; Prior 41.0 10.00 ISM N-Manufacturing Employment Index for Jun: Prior 31.8 10.00 ISM N-Manufacturing New Orders Index for Jun: Prior 41.9 10.00 ISM N-Manufacturing Price Paid Index for Jun: Prior 55.6

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$1.36) ($1 = 1.3549 Canadian dollars) (Reporting by Shivani Kumaresan in Bengaluru; editing by Uttaresh.V)

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