June 21, 2018 / 11:28 AM / 4 months ago

CANADA STOCKS-TSX futures fall on lower oil prices

June 21 (Reuters) - Futures pointed to a lower opening for Canada’s main stock index on Thursday as oil prices fell on signs that OPEC is nearing a deal to bump up crude production.

The Organization of the Petroleum Exporting Countries (OPEC) ends its biannual meeting in Vienna on Friday and is widely expected to agree to pump more, possibly supported by other major producers, including Russia.

June futures on the S&P/TSX index were down 0.11 percent at 7:15 a.m. ET.

April wholesale trade data is due at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX rose 104.42 points, or 0.64 percent, to 16,420.95 on Wednesday.

Dow Jones Industrial Average e-mini futures were down 0.29 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.14 percent and Nasdaq 100 e-mini futures were down 0.07 percent.

TOP STORIES

Brookfield Asset Management Inc launched a $515 million bid for Australian retirement village owner Gateway Lifestyle Group, topping an earlier bid from Hometown America Corp and setting up a takeover tussle.

Marijuana sales will become legal in Canada beginning Oct. 17, Prime Minister Justin Trudeau said on Wednesday, making it the first major economy to legalize its recreational use.

British Columbia said it is preparing legislation to crack down on “hidden ownership” in real estate and pledged Canada’s first public registry of property owners, amid concerns that offshore money and criminal investors are helping fuel a housing crisis in the Pacific Coast province.

ANALYST RESEARCH HIGHLIGHTS

Dollarama Inc: Barclays adjusts price target to C$52 from C$157

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1265.1; fell 0.74 percent

US crude: $64.78; fell 1.42 percent

Brent crude: $73.63; fell 1.49 percent

LME 3-month copper: $6803.5; rose 0.45 percent

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial Jobless Claims: Expected 220,000; Prior 218,000

0830 Jobless Claims 4-Wk Avg: Prior 224,250

0830 Continued jobless claims: Expected 1.730 mln; Prior 1.697 mln

0830 Philly Fed Business Index for June: Expected 29.0; Prior 34.4

0830 Philly Fed 6M Index for Jun: Prior 38.70

0830 Philly Fed Capex Index for June: Prior 21.60

0830 Philly Fed Employment for June: Prior 30.20

0830 Philly Fed Prices Paid for June: Prior 52.60

0830 Philly Fed New Orders for June: Prior 40.60

0900 Monthly home price mm for April: Prior 0.1 pct

0900 Monthly home price yy for April: Prior 6.7 pct

0900 Monthly home price index for April: Prior 261.7

1000 Leading index change mm for May: Expected 0.4 pct; Prior 0.4 pct

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 Debanjan Bose in Bengaluru; Editing by Shounak Dasgupta)

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