June 12, 2020 / 11:44 AM / a month ago

CORRECTED-CANADA STOCKS-TSX futures rise after previous session crash

(Corrects paragrah 2 to say “their highest percentage loss since March 27”, instead of “their lowest level since March 27”. Also removes reference to stocks falling to a near three-month low from paragraph 1)

June 12 (Reuters) - Canada’s main stock index futures rose on Friday, a session after stocks tumbled on fears of a second wave of coronavirus infections.

The Toronto Stock Exchange’s S&P/TSX composite index ended down 4.14% at 15,050.92 on Thursday, their highest percentage loss since March 27.

June futures on the S&P/TSX index were up 1.89% at 7:00 a.m. ET, as gold prices lent some support.

Gold rose on Friday as fears regarding the resurgence of infections and grim economic outlook by the U.S. Federal Reserve boosted demand for bullion.

Capacity utilization data for the first quarter is due at 8:30 a.m. ET

Dow Jones Industrial Average e-mini futures were up 2.22% at 7:00 a.m. ET. S&P 500 e-mini futures were up 1.91% and Nasdaq 100 e-mini futures were up 1.61%.

TOP STORIES

EU antitrust regulators have set a July 16 deadline for a decision on whether to clear French TGV high-speed train maker Alstom’s bid for Bombardier Inc’s rail division, according to a filing on the European Commission website.

Last year’s collapse of Canadian cryptocurrency trading platform Quadriga CX was due to a Ponzi scheme operated by founder Gerald Cotton, who died suddenly in December 2018, the country’s biggest securities regulator said on Thursday.

ANALYST RESEARCH HIGHLIGHTS

Cenovus Energy Inc: Scotiabank cuts rating to sector perform from sector outperform

Dollarama Inc: BMO raises target price to C$52 from C$45

TMX Group Ltd: Deutsche Bank raises target price to C$146 from C$141

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1739.3; +0.27%

US crude: $36.47; +0.36%

Brent crude: $38.79; +0.62%

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Import prices mm for May: Expected 0.6%; Prior -2.6

0830 Export prices mm for May: Expected 0.6%; Prior -3.3%

0830 Import prices yy for May: Prior -6.8%

1000 U Mich Sentiment Preliminary for Jun: Expected 75.0; Prior 72.3

1000 U Mich Conditions Preliminary for Jun: Expected 85.0; Prior 82.3

1000 U Mich Expectations Preliminary for Jun: Expected 70.0; Prior 65.9

1000 (approx.) U Mich 1 year inflation preliminary for Jun: Prior 3.2%

1000 (approx.) U Mich 5-year inflation preliminary for Jun: Prior 2.7%

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) (Reporting by Yoganand KN in Bengaluru; Editing by Amy Caren Daniel)

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