April 6, 2017 / 11:35 AM / 4 months ago

CANADA STOCKS-TSX futures gain as oil prices recover

3 Min Read

April 6 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Thursday as oil prices recovered from losses triggered by record high U.S. crude inventories.

June futures on the S&P TSX index were up 0.22 percent at 7:15 a.m. ET.

Statistics Canada is scheduled to release building permits data for February at 8:30 a.m. ET.

Canada's main stock index edged lower on Wednesday, retreating from a nearly six-week high as financial shares declined and the energy sector gave up an earlier advance, although overall losses were tempered by gains in consumer-related stocks.

Dow Jones Industrial Average e-mini futures were up 0.1 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.09 percent and Nasdaq 100 e-mini futures were up 0.09 percent.

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Top Stories

Royal Bank of Canada, JPMorgan and Bank of Montreal took the top three positions advising on Canadian equity issues in the first quarter, according to Thomson Reuters data released on Thursday.

Canadian media company Corus Entertainment Inc reported an 86 percent rise in quarterly revenue, helped by higher income from its television business.

China's Shandong Gold Mining Co Ltd will pay $960 million for a 50 percent stake in Barrick Gold Corp's Veladero gold mine in Argentina, the Canadian miner said in a press release.

Analyst Research Highlights

Cascades Inc: National Bank Financial raises target price to C$16 from C$13.50

Hudson's Bay Co: CIBC raises price target to C$14 from C$12.50

Intact Financial: KBW starts coverage with "market perform" rating; C$101 price target

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1252.9; +0.6 percent

US crude: $51.5; +0.68 percent

Brent crude: $54.81; +0.83 percent

LME 3-month copper: $5911; +0.27 percent

u.s. Economic Data Due on Thursday

08:30 Initial jobless claims: Expected 250,000; Prior 258,000

08:30 Jobless claims 4-week average: Prior 254,250

08:30 Continued jobless claims: Expected 2.040 mln; Prior 2.052 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$1.34) (Reporting by Nikhil Kumar in Bengaluru; Editing by Saumyadeb Chakrabarty)

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