May 9, 2018 / 11:40 AM / 18 days ago

CANADA STOCKS-TSX futures rise with oil prices

May 9 (Reuters) - Stock futures for Canada’s main equity index were higher on Wednesday as oil prices jumped after U.S. President Donald Trump pulled the United States out of a nuclear agreement with Iran.

Trump’s decision on Tuesday raised the risk of conflict in the Middle East, upsetting European allies and casting uncertainty over global oil supplies.

June futures on the S&P TSX index were up 0.27 percent at 7:15 a.m. ET.

Building permits data for March is due at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX rose 34.08 points, or 0.22 percent, to 15,842.71.

Dow Jones Industrial Average e-mini futures were up 0.5 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.43 percent and Nasdaq 100 e-mini futures were up 0.31 percent.

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TOP STORIES

Pipeline operator Enbridge Inc said on Wednesday it would sell a 49 percent stake in some North American and German renewable power assets for C$1.75 billion ($1.35 billion) to the Canada Pension Plan Investment Board.

Canadian insurance company Sun Life Financial Inc’s quarterly profit beat analysts’ estimates on Tuesday as the company sold more managed funds and paid lower tax rates for its U.S. business.

ANALYST RESEARCH HIGHLIGHTS

Alaris Royalty Corp: CIBC cuts price target to C$18 from C$21

Liquor Stores NA Ltd: RBC cuts target price to C$9 from C$10

Surge Energy Inc: Canaccord Genuity raises price target to C$3.50 from C$3.25

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,309; -0.36 pct

U.S. crude: $70.92; +2.69 pct

Brent crude: $76.94; +2.79 pct

LME 3-month copper: $6,807; +0.92 pct

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 PPI final demand yy for Apr: Expected 2.8 pct; Prior 3.0 pct

0830 PPI final demand mm for Apr: Expected 0.2 pct; Prior 0.3 pct

0830 PPI exfood/energy yy for Apr: Expected 2.4 pct; Prior 2.7 pct

0830 PPI exfood/energy mm for Apr: Expected 0.2 pct; Prior 0.3 pct

0830 PPI ex food/energy/transport yy for Apr: Prior 2.9 pct

0830 PPI ex food/energy/transport mm for Apr: Prior 0.4 pct

1000 Wholesale inventory R mm for Mar: Expected 0.5 pct; Prior 0.5 pct

1000 Wholesale sales mm for Mar: Expected 0.5 pct; Prior 1.0 pct

1030 EIA ethanol Ref Stk: Prior 22,142,000

1030 EIA ethanol fuel total: Prior 1,032,000

1100 TR IPSOS PCSI for May: Prior 63.57

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$1.29) (Reporting by Nandi Kaul in Bengaluru; Editing by Maju Samuel)

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