June 13, 2019 / 11:39 AM / 3 days ago

CANADA STOCKS-Surging crude prices push TSX futures higher

June 13 (Reuters) - Futures pointed to a higher opening for Canada’s main stock index on Thursday, as oil prices surged after a suspected attack on two tankers near Iran.

Two oil tankers were hit in suspected attacks in the Gulf of Oman, shipping firms and industry sources said, sending oil prices higher a month after four other tankers were damaged by limpet mines in the region.

June futures on the S&P/TSX index were up 0.23% at 7:00 a.m. ET.

Statistics Canada will release new house prices index data at 8:30 a.m. ET

The Toronto Stock Exchange’s S&P/TSX fell 0.13% to 16,227.24 on Wednesday.

Dow Jones Industrial Average e-mini futures were up 0.35% at 7:00 a.m. ET, S&P 500 e-mini futures 0.39% and Nasdaq 100 e-mini futures 0.57%.

TOP STORIES

Canadian department store operator Hudson’s Bay Co reported a 3.3% fall in first-quarter revenue on fewer stores and lower sales in its Lord & Taylor unit.

Canadian discount store operator Dollarama Inc reported a nearly 2% rise in quarterly profit as more customers shopped at its stores.

Canadian exporters’ confidence fell to a seven-year low in a survey released amid the disruption caused by trade wars and the imposition of U.S. tariffs.

Canada’s Vermilion Energy has begun drilling its first exploration well in Croatia and should have initial results on the presence of oil or gas within five weeks, the Croatian Hydrocarbon Agency (AZU) said.

ANALYST RESEARCH HIGHLIGHTS

CGI Inc: CIBC raises target price to C$101 from C$100

Roots Corp: National Bank of Canada cuts target price to C$5 from C$5.50

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1337.1; +0.24%

US crude: $52.68; +3.01%

Brent crude: $62.09; +3.54%

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Import prices mm for May: Expected -0.2%; Prior 0.2%

0830 Export prices mm for May: Expected -0.1 %; Prior 0.2%

0830 Initial jobless claims: Expected 216,000; Prior 218,000

0830 Jobless claims 4-week average: Prior 215,000

0830 Continued jobless claims: Expected 1.680 mln; Prior 1.682 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$1.33) (Reporting by Nayyar Rasheed in Bengaluru; Editing by Shinjini Ganguli)

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