March 14, 2018 / 11:35 AM / 7 months ago

CANADA STOCKS-TSX futures point to higher open as oil prices rise

March 14 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Wednesday as crude oil prices rose on strong Chinese factory data.

March futures on the S&P TSX index were up 0.48 percent at 7:15 a.m. ET.

Canadian producers of industrial metals such as copper and palladium will also be in focus as the upbeat data lifted prices of the commodities.

The country’s main stock index ended higher on Tuesday as gold and energy companies advanced and as comments from Bank of Canada Governor Stephen Poloz indicated the central bank will remain cautious in its policy decisions.

Dow Jones Industrial Average e-mini futures were up 0.4 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.3 percent and Nasdaq 100 e-mini futures were up 0.5 percent.

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TOP STORIES

The U.S. Commerce Department said on Tuesday it had made a preliminary finding that some imports from Canada of uncoated groundwood paper used in newsprint were dumped, and imposed preliminary duties of up to 22.16 percent.

ANALYST RESEARCH HIGHLIGHTS

Bellatrix Exploration Ltd: Canaccord Genuity cuts price target to C$1.75 from C$2.25

Petrus Resources Ltd: CIBC initiates coverage with neutral rating, price target C$1.50

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1325.6; -0.11 percent

US crude: $61.13; +0.69 percent

Brent crude: $65.03; +0.6 percent

LME 3-month copper: $7024; +1.14 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 PPI final demand yy for Feb: Expected 2.8 pct; Prior 2.7 pct

0830 PPI final demand mm Feb: Expected 0.1 pct; Prior 0.4 pct

0830 PPI exfood/energy yy for Feb: Expected 2.5 pct; Prior 2.2 pct

0830 PPI exrood/energy mm for Feb: Expected 0.2 pct; Prior 0.4 pct

0830 PPI ex food/energy/tr yy for Feb: Prior 2.5 pct

0830 PPI ex food/energy/tr mm for Feb: Prior 0.4 pct

0830 Retail sales ex-autos mm for Feb: Expected 0.4 pct; Prior 0 pct

0830 Retail sales mm for Feb: Expected 0.3 pct; Prior -0.3 pct

0830 Retail ex gas/autos for Feb: Prior -0.2 pct

0830 Retail control for Feb: Expected 0.4 pct; Prior 0 pct

1000 Business inventories mm for Jan: Expected 0.6 pct; Prior 0.4 pct

1200 TR IPSOS PCSI for Mar: Prior 63.06

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$1.30) (Reporting by Nayyar Rasheed in Bengaluru Editing by Saumyadeb Chakrabarty)

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