May 10, 2018 / 11:42 AM / 2 months ago

CANADA STOCKS-TSX futures dip on political uncertainty

May 10 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Thursday amid political uncertainty after Israel said it attacked nearly all of Iran’s military infrastructure in Syria after Iranian forces fired rockets at Israeli-held territory for the first time.

It was the heaviest Israeli barrage in Syria since the start in 2011 of its civil war, in which Iranians, allied Shi’ite militias and Russian soldiers have deployed in support of President Bashar al-Assad.

June futures on the S&P TSX index were down 0.24 percent at 7:15 a.m. ET.

New housing price index data for March is due at 8:30 a.m. ET

The Toronto Stock Exchange’s S&P/TSX rose 68.10 points, or 0.43 percent, to 15,910.81 as oil prices rose in the wake of the decision by U.S. President Donald Trump to quit a nuclear deal with Iran.

Dow Jones Industrial Average e-mini futures were down 0.01 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 0.14 percent.

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TOP STORIES

Enbridge Inc’s first-quarter profit handily topped analysts’ forecasts on Thursday, as Canada’s largest pipeline operator transported higher volumes of crude oil and natural gas.

Canadian auto parts maker Magna International Inc raised its full-year sales and profit forecasts on Thursday after posting higher sales across its businesses in the first quarter.

Canadian telecom provider Telus Corp reported a 2.4 percent drop in first-quarter profit on Thursday, hurt by higher operating expenses.

Retailer Canadian Tire Corp said on Thursday it would buy Norway-based sportswear and work-wear brand Helly Hansen for C$985 million, including debt.

ANALYST RESEARCH HIGHLIGHTS

Alcanna Inc: CIBC cuts price target to C$10 from C$13

Franco-Nevada: National Bank of Canada raises target price to C$107.50 from C$105

Open Text Corp: Barclays raises target price to C$59 from C$57

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,316.5; +0.27 pct

U.S. crude: $71.51; +0.52 pct

Brent crude: $77.33; +0.16 pct

LME 3-month copper: $6,892.5; +1.21 pct

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Core CPI mm, SA for Apr: Expected 0.2 pct; Prior 0.2 pct

0830 Core CPI yy, NSA for Apr: Expected 2.2 pct; Prior 2.1 pct

0830 CPI Index, NSA for Apr: Expected 250.684; Prior 249.554

0830 Core CPI Index, SA for Apr: Prior 256.2

0830 CPI mm, SA for Apr: Expected 0.3 pct; Prior -0.1 pct

0830 CPI yy, NSA for Apr: Expected 2.5 pct; Prior 2.4 pct

0830 Real weekly earnings mm for Apr: Expected -0.1 pct; Prior 0.4 pct

0830 Initial jobless claims: Expected 218,000; Prior 211,000

0830 Jobless claims 4-week average: Prior 221,500

0830 Continued jobless claims: Expected 1.778 mln; Prior 1.756 mln

1100 Cleveland fed CPI for Apr: Prior 0.3 pct

1400 Federal Budget for Apr: Expected $193.75 bln; Prior -$209.00 bln

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$1.28) (Reporting by Nandi Kaul in Bengaluru; Editing by Bernard Orr)

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