March 29, 2019 / 11:47 AM / 4 months ago

CANADA STOCKS-TSX futures rise on higher oil prices

March 29 (Reuters) - Futures pointed to a higher opening for Canada’s main stock index on Friday, as oil prices gained in the wake of OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela.

Investors will also focus on key economic indicators scheduled for release later in the day. Statistics Canada is expected to report the country’s gross domestic product growth for January and producer prices data for February at 8:30 a.m. ET.

June futures on the S&P/TSX index were up 0.2 percent at 7:10 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX rose 22.96 points, or 0.14 percent, to close at 16,155.49 on Thursday.

Dow Jones Industrial Average e-mini futures were up 0.42 percent at 7:10.m. ET, while S&P 500 e-mini futures edged up 0.41 percent and Nasdaq 100 e-mini futures were up 0.45 percent.

TOP STORIES

Canada’s BlackBerry Ltd reported a fourth-quarter profit compared with a year-ago loss, benefiting from a 71 percent rise in its licensing and IP revenue as it filed for more patents for its technologies.

Fiat Chrysler Automobiles NV said on Thursday it will eliminate one shift at its Windsor, Ontario, assembly plant where it builds minivans, resulting in the loss of 1,500 jobs.

ANALYST RESEARCH HIGHLIGHTS

Cronos Group Inc: Canaccord Genuity cuts to sell from hold

Stars Group Inc: Desjardins raises to buy from hold

Abacus Health Products Inc: Eight Capital raises target to C$22 from C$15

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,293.5; +0.08 percent

US crude: $60.07; +1.3 percent

Brent crude: $68.58; +1.1 percent

U.S. ECONOMIC DATA DUE ON FRIDAY

0800 Build permits number for Feb: Prior 1.296 mln

0800 Build permits R change mm for Feb: Prior -1.6 pct

0830 Personal income mm for Feb: Expected 0.3 pct; Prior -0.1 pct

0830 Personal consumption real mm for Jan: Prior -0.6 pct

0830 Consumption, adjusted mm for Jan: Expected 0.3 pct; Prior -0.5 pct

0830 Core PCE price index mm for Jan: Expected 0.2 pct; Prior 0.2 pct

0830 Core PCE price index yy for Jan: Expected 1.9 pct; Prior 1.9 pct

0830 PCE price index mm for Jan: Prior 0.1 pct

0830 PCE price index yy for Jan: Prior 1.7 pct

0945 Chicago PMI for Mar: Expected 61.0; Prior 64.7

1000 U Mich Sentiment Final for Mar: Expected 97.8; Prior 97.8

1000 U Mich Conditions Final for Mar: Prior 111.2

1000 U Mich Expectations Final for Mar: Prior 89.2

1000 U Mich 1-year inflation final for Mar: Prior 2.4 pct

1000 U Mich 5-year inflation final for Mar: Prior 2.5 pct

1000 New home sales-units for Feb: Expected 0.620 mln; Prior 0.607 mln

1000 New home sales change mm for Feb: Expected 1.3 pct; Prior -6.9 pct

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$1.34) (Reporting by Avina Ajit in Bengaluru; Editing by James Emmanuel)

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