June 11, 2019 / 11:25 AM / 9 days ago

CANADA STOCKS-TSX futures propped up by higher oil prices

June 11 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Tuesday as oil prices rose on expectations OPEC and its allies will keep withholding supply.

June futures on the S&P/TSX index were up 0.34% at 7:00 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX fell 14.70 points, or 0.09%, to 16,216.26 on Monday.

Dow Jones Industrial Average e-mini futures were up 0.38% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.4% and Nasdaq 100 e-mini futures were up 0.56%.

TOP STORIES

Zambia has no plans to seize the assets of Quantum Minerals Ltd and the copper producer intends to stay in the country despite the government’s move to wrest control of a rival miner, government and industry sources told Reuters.

Quebec’s economy minister said on Monday his government has ruled out investing in Bombardier Inc’s weak-selling regional jet program, which could be sold to Japan’s Mitsubishi Heavy Industries Ltd.

ANALYST RESEARCH HIGHLIGHTS

Hudson’s Bay Co: CIBC cuts target price to C$9.45 from C$10

National Bank of Canada: Barclays cuts rating to underweight from equal weight

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1323.3; -0.23%

US crude: $53.68; +0.79%

Brent crude: $62.4; +0.18%

U.S. ECONOMIC DATA DUE ON TUESDAY

0830 PPI final demand yy for May: Expected 2.0%; Prior 2.2%

0830 PPI final demand mm for May: Expected 0.1%; Prior 0.2%

0830 PPI exfood/energy yy for May: Expected 2.3%; Prior 2.4%

0830 PPI exfood/energy mm for May: Expected 0.2%; Prior 0.1%

0830 PPI ex food/energy/transport yy for May: Prior 2.2%

0830 PPI ex food/energy/transport mm for May: Prior 0.4%

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)

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