Nov 3 (Reuters) - Futures on Canada’s main stock index edged higher on Thursday as oil prices climbed after an attack on a Nigerian oil pipeline helped ease global supply glut concerns.
December futures on the S&P TSX index were up 0.21 percent at 7:35 a.m. ET.
No economic data is scheduled for release.
Canada’s main stock index fell sharply on Wednesday as tumbling oil prices weighed on energy shares and investors worried about disappointing earnings and a tightening U.S. presidential race.
Dow Jones Industrial Average e-mini futures were up 0.29 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.27 percent and Nasdaq 100 e-mini futures were up 0.05 percent.
Canadian Natural Resources Ltd, Canada’s largest independent petroleum producer, reported a bigger quarterly loss due to lower prices.
Canadian oil and natural gas producer Encana Corp posted a quarterly profit, on an operating basis, as a steep fall in costs helped offset the impact of weak commodity prices.
Canadian auto parts maker Magna International Inc reported a better-than-expected quarterly profit, helped by strong demand from Asia and Europe.
ANALYST RESEARCH HIGHLIGHTS
BRP Inc : UBS raises target price to C$26 from C$22
Maple Leaf Foods : Canaccord Genuity raises target to C$36 from C$35
Teck Resources : RBC raises target price to C$35 from C$30
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,291.2; -1.31 pct
US crude : $45.74; +0.86 pct
Brent crude : $47.31; -0.96 pct
LME 3-month copper : $4,922.00; +0.04 pct
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Initial jobless claims: Expected 258,000; Prior 258,000
0830 Jobless claims 4-week average: Prior 253,000
0830 Continued jobless claims: Expected 2.044 mln; Prior 2.039 mln
0830 Labor costs preliminary for Q3: Expected +1.3 pct; Prior +4.3 pct
0830 Productivity preliminary for Q3: Expected +2.0 pct; Prior -0.6 pct
0945 Markit Services PMI Final for Oct: Prior 54.8
0945 Markit Composite Final PMI for Oct: Prior 54.9
1000 Durables ex-defense, R mm for Sep: Prior +0.7 pct
1000 Durable goods, R mm for Sep: Prior -0.1 pct
1000 Factory orders mm for Sep: Expected +0.2 pct; Prior +0.2 pct
1000 Durables ex-transport R mm for Sep: Prior +0.2 pct
1000 Nondefense cap ex-air R mm for Sep: Prior -1.2 pct
1000 Factory ex-transport mm for Sep: Prior 0.0 pct
1000 ISM N-Manufacturing PMI for Oct: Expected 56.0; Prior 57.1
1000 ISM N-Manufacturing Business Act for Oct: Expected 59.7; Prior 60.3
1000 ISM N-Manufacturing Employment Index for Oct: Prior 57.2
1000 ISM N-Manufacturing New Orders Index for Oct: Prior 60.0
1000 ISM N-Manufacturing Price Paid Index for Oct: Prior 54.0
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$1.34)
Reporting by Nivedita Balu in Bengaluru; Editing by Sriraj Kalluvila
Our Standards: The Thomson Reuters Trust Principles.