July 17, 2019 / 11:50 AM / 4 months ago

CANADA STOCKS-TSX futures rise as oil prices gain

July 17 (Reuters) - Canada’s main stock index futures edged up on Wednesday, as oil prices rose even after data showed U.S. crude inventories fell less than expected.

Last week, U.S. crude inventories fell less than expected, gasoline too decreased, while distillate rose, industry group the American Petroleum Institute said on Tuesday.

September futures on the S&P/TSX index were up 0.1% at 7:00 a.m. ET.

Canada’s inflation and factory sales data are due at 8:30 a.m. ET

The Toronto Stock Exchange’s S&P/TSX fell 8.40 points, or 0.05%, to 16,502.42 on Tuesday.

Dow Jones Industrial Average e-mini futures were up 0.05% at 7:00 a.m. ET, S&P 500 e-mini futures 0.04% and Nasdaq 100 e-mini futures 0.13%.

ANALYST RESEARCH HIGHLIGHTS

Canadian Pacific Railway Ltd: RBC raises price target to C$356 from C$342

Cogeco Communications Inc: CIBC raises target price to C$109 from C$103

Nfi Group Inc: CIBC cuts target price to C$41 from C$45

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,404.2; -0.5%

US crude: $58.01; +0.68%

Brent crude: $64.97; +0.96%

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Building permits number for June: Expected 1.3 mln; Prior 1.299 mln

0830 Build permits: change mm for June: Prior 0.7%

0830 Housing starts number for June: Expected 1.261 mln; Prior 1.269 mln

0830 House starts mm: change for June: Prior -0.9%

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$1.31 Reporting by Nachiket Tekawade in Bengaluru; Editing by Shinjini Ganguli

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