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CANADA STOCKS-Oil prices weigh on TSX futures
October 12, 2017 / 11:29 AM / a month ago

CANADA STOCKS-Oil prices weigh on TSX futures

Oct 12 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Thursday, tracking losses in oil markets after U.S. fuel inventories rose despite efforts by OPEC to cut production.

December futures on the S&P TSX index were down 0.9 percent at 7:15 a.m. ET.

New home prices data for August is due at 8:30 a.m. ET

Canada’s main stock index hit a 7-1/2-month high on Wednesday, helped in part by soaring Pretium Resources Inc shares and modest gains in the hefty financial services group.

Dow Jones Industrial Average e-mini futures were down 0.06 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.08 percent and Nasdaq 100 e-mini futures were down 0.08 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

U.S. President Donald Trump said on Wednesday he was open to bilateral trade pacts with either Canada or Mexico if a three-way deal cannot be reached to substantially revise the North American Free Trade Agreement.

BlackBerry Ltd said on Thursday it signed a new license agreement with BLU Products Inc, a Florida-based maker of low-end Android phones, that would end patent disputes between the two companies.

Canada’s Metro Inc said on Wednesday it would sell a major portion of its stake in Alimentation Couche Tard Inc to fund its C$4.5 billion acquisition of pharmacy chain Jean Coutu Group.

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,297.7; +0.63 pct

US crude: $50.39; -1.52 pct

Brent crude: $56.85; +1.19 pct

LME 3-month copper: $6,843.50; +0.64 pct

ANALYST RESEARCH HIGHLIGHTS

Aphria Inc: Canaccord Genuity cuts to hold from speculative buy

Canopy Growth Corp: Canaccord cuts to sell from hold

Gluskin Sheff + Associates Inc: CIBC cuts to neutral from outperformer

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims: Expected 251,000; Prior 260,000

0830 Jobless claims 4-week average: Prior 268,250

0830 Continued jobless claims: Expected 1.935 mln; Prior 1.938 mln

0830 PPI final demand yy for Sept: Expected 2.5 pct; Prior 2.4 pct

0830 PPI final demand mm for Sept: Expected 0.4 pct; Prior 0.2 pct

0830 PPI ex food/energy yy for Sept: Expected 2.0 pct; Prior 2.0 pct

0830 PPI ex food/energy mm for Sept: Expected 0.2 pct; Prior 0.1 pct

0830 PPI ex food/energy/transport yy for Sept: Prior 1.9 pct

0830 PPI ex food/energy/transport mm for Sept: Expected 0.2 pct; Prior 0.2 pct

1400 Federal budget for Sept: Expected $6.00 bln; Prior -$108.0 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$1.24 Reporting by Pradip Kakoti in Bengaluru; Editing by Maju Samuel

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