CANADA STOCKS-TSX futures higher as oil prices rise

By Kitco News / April 24, 2018 / www.kitco.com / Article Link

April 24 (Reuters) - Canada's main stock index looked set to open higher on Tuesday as oil prices rose above $75 per barrel to their highest since November 2014.

June futures on the S&P TSX index were up 0.34 percent at 7:15 a.m. ET.

Canada's benchmark stock index ended higher on Monday, with gains in the price of U.S. crude oil driving up shares of companies in the energy sector.

Dow Jones Industrial Average e-mini futures were up 0.57 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were 0.53 percent higher and Nasdaq 100 e-mini futures rose 0.54 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Mitel Networks Corp said on Tuesday it would be bought by an investor group led by Searchlight Capital Partners in a deal valued at about $2 billion, including debt.

Burger King owner Restaurant Brands International Inc reported a better-than-expected first-quarter profit on Tuesday as more diners visited its fast food restaurants.

Teck Resources Ltd, the world's second-biggest exporter of steelmaking coal, reported on Tuesday higher-than-expected adjusted first-quarter earnings as sales volumes climbed.

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,327.5; 0.26 pct

US crude: $69.07; 0.63 pct

Brent crude: $74.96; 0.33 pct

LME 3-month copper: $7040; 1.39 pct

ANALYST RESEARCH HIGHLIGHTS

?EUR? Canadian Utilities Ltd (CU). BMO cuts target price to C$37 from C$39.

?EUR? Hydro One Ltd (H). CIBC cuts rating to neutral from outperformer.

U.S. ECONOMIC DATA DUE ON TUESDAY

0800 Building permits R number for Mar: Prior 1.354 mln

0800 Building permits R change mm for Mar: Prior -2.5 pct

0900 Monthly home price mm for Feb: Prior 0.8 pct

0900 Monthly home price yy for Feb: Prior 7.3 pct

0900 Monthly Home Price Index for Feb: Prior 259.3 0900 CaseShiller 20 mm SA for Feb: Expected 0.7 pct; Prior 0.8 pct

0900 CaseShiller 20 mm NSA for Feb: Prior 0.3 pct

0900 CaseShiller 20 yy for Feb: Expected 6.3 pct; Prior 6.4 pct

1000 Consumer Confidence for Apr: Expected 126.0; Prior 127.7

1000 New home sales-units for Mar: Expected 0.630 mln; Prior 0.618 mln

1000 New home sales change mm for Mar: Expected 1.9 pct; Prior -0.6 pct

1000 Rich Fed Composite Index for Apr: Prior 15

1000 Rich Fed, Services Index for Apr: Prior 25

1000 Rich Fed Manufacturing Shipments for Apr: Prior 15

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$1.28 Reporting by Benny Thomas in Bengaluru; Editing by Anil D'Silva

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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