April 24, 2018 / 11:34 AM / a month ago

CANADA STOCKS-TSX futures higher as oil prices rise

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

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

• 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

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