Canada stock futures gain on higher oil prices

Send a link to a friend  Share

[November 30, 2017]   (Reuters) - Stock futures pointed to a slightly higher opening for Canada's main stock index on Thursday, as oil prices surged on hopes that an OPEC meeting that got underway in Vienna would extend ongoing output cuts.

Initial comments from members of the Organization of the Petroleum Exporting Countries suggested an extension of current crude output curbs until the end of 2018.

December futures on the S&P TSX index  were up 0.08 percent at 7:15 a.m. ET.

Canada's current account deficit data is due at 8:30 a.m. ET

Canada's main stock index ended lower on Wednesday, hurt by losses among miners with weaker copper and gold prices, a pullback in technology stocks led by Shopify Inc <SHOP.TO> and a fall in shares of Canadian National Railway Co <CNR.TO>.

Dow Jones Industrial Average e-mini futures <1YMc1> were up 0.31 percent at 7:15 a.m. ET, while S&P 500 e-mini futures <ESc1> were up 0.26 percent and Nasdaq 100 e-mini futures <NQc1> were up 0.29 percent. [.N]

TOP STORIES [TOP/CAN]

Canada's federal government on Wednesday backed Kinder Morgan Canada Ltd's <KML.TO> second appeal to the country's energy regulator over local permits for its planned Trans Mountain oil pipeline expansion, as related public hearings began.

Private equity-backed Canadian waste management company GFL Environmental Inc is seeking to raise as much as C$1 billion ($778 million) in an initial public offering that could be filed as early as the first quarter, people familiar with the situation told Reuters on Wednesday.

Chinese groups have shown "broad interest" in buying Potash Corp of Saskatchewan's stake in Chilean lithium producer SQM, Potash Corp Chief Executive Jochen Tilk said on Wednesday.

ANALYST RESEARCH HIGHLIGHTS [RCH/CA]

Boralex Inc: National Bank raises target price to C$26 from C$24

Lundin Mining Corp: Canaccord Genuity cuts to hold from buy

[to top of second column]

A man walks past an old Toronto Stock Exchange (TSX) sign in Toronto, Ontario, Canada on June 23, 2014. REUTERS/Mark Blinch/File Photo

COMMODITIES AT 7:15 a.m. ET [COM/WRAP]

Gold futures <GCc1>: $1281.3; fell 0.06 percent [GOL/]

US crude: $57.77; rose 0.82 percent [O/R]

Brent crude: $64.06; rose 1.51 percent [O/R]

LME 3-month copper: $6789; rose 0.43 percent [MET/L]

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Personal consumption real mm for Oct: Prior 0.6 pct

0830 Personal income mm for Oct: Expected 0.3 pct; Prior 0.4 pct
 

0830 Consumption, adjusted mm for Oct: Expected 0.3 pct; Prior 1.0 pct

0830 Core PCE price index mm for Oct: Expected 0.2 pct; Prior 0.1 pct

0830 Core PCE price index yy for Oct: Prior 1.3 pct

0830 PCE Price Index MM for Oct: Prior 0.4 pct

0830 PCE Price Index YY for Oct: Prior 1.6 pct

0830 Initial jobless claims: Expected 240,000; Prior 239,000

0830 Jobless claims 4-week average: Prior 239,750

0830 Continued jobless claims: Prior 1.904 mln

0900 Dallas fed PCE for Oct: Prior 1.8 pct

0945 Chicago PMI for Nov: Expected 63.0; Prior 66.2

(Reporting by Nishit Kunal in Bengaluru; Editing by Maju Samuel)

[© 2017 Thomson Reuters. All rights reserved.]

Copyright 2017 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Back to top