TSX futures bounce back as oil prices firm

[June 17, 2022]  (Reuters) - Canada's main stock index was poised to open higher on Friday on gains in crude prices, but tracked its worst week since the pandemic-driven market rout in March 2020.

September futures on the S&P/TSX index were up 0.9% at 7:00 a.m. ET.

Prices of oil rose on Friday, helped by supply tightness and new sanctions on Iran. [O/R]

The benchmark index is down 6.26% so far this week as investors grew worried that aggressive interest rate hikes from major central banks could trigger a recession.

Canada's producer prices and raw materials prices data for May is due at 08:30 a.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index ended 3.1% lower at 19,004.06 on Thursday, its biggest drop since June 2020 and its lowest level since April 2021. [.TO]

Dow e-minis were up 178 points, or 0.59% at 7:00 a.m. ET, while S&P 500 e-minis were up 30.5 points, or 0.83% and Nasdaq 100 e-minis were up 126.75 points, or 1.14%. [.N]

TOP STORIES [TOP/CAN]
 

Bausch Health Companies Inc said on Thursday it was suspending plans for the initial public offering of its unit Solta Medical due to challenging market conditions.

ANALYST RESEARCH HIGHLIGHTS [RCH/CA]

Telus Corp: RBC cuts target price to C$36 from C$37

Airboss Of America Corp: TD Securities cuts target price to C$34 from C$40

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1845.8; -0.04% [GOL/]

US crude: $118.04; +0.38% [O/R]
 

A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. Canada's main stock index was little changed on Monday as weakness in financial and energy shares offset gains in the materials sector. REUTERS/Mark Blinch (CANADA - Tags: BUSINESS)/File Photo

Brent crude: $120.39; +0.48% [O/R]

U.S. ECONOMIC DATA DUE ON FRIDAY

0915 Industrial production mm for May: Expected 0.4%; Prior 1.1%

0915 Capacity utilization SA for May: Expected 79.2%; Prior 79%

0915 Manufacturing output mm for May: Expected 0.3%; Prior 0.8%

0915 Industrial production YoY for May: Prior 6.4%

1000 Leading index change mm for May: Expected -0.4%; Prior -0.3%

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report [.TO]

Canadian dollar and bonds report [CAD/] [CA/]

Reuters global stocks poll for Canada

Canadian markets directory

($1= C$1.30)


(Reporting by Amal S in Bengaluru; Editing by Sriraj Kalluvila)

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