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Futures gain on higher oil prices


Reuters

Dec 7 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Thursday, as oil prices edged up supported by a decrease in U.S. crude inventories.

December futures on the S&P TSX index were up 0.24 percent at 7:15 a.m. ET.

Canadian building permits data is due at 8:30 a.m. ET.

Dow Jones Industrial Average e-mini futures were down 0.12 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.02 percent and Nasdaq 100 e-mini futures were up 0.23 percent.

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TOP STORIES

Canadian yoga and leisure apparel maker Lululemon Athletica Inc on Wednesday reported a higher-than-expected profit and gave an upbeat holiday-quarter forecast, sending its shares up nearly 7 percent in after-hours trading.

Canadian telecom company Rogers Communications Inc is considering selling the Toronto Blue Jays Major League Baseball team in an effort to generate cash that could be used in its core business, the company's chief financial officer said.

Canada's main crude-producing province Alberta unveiled new rules on Wednesday on how it would charge large industrial emitters including the oil sands sector for carbon output, saying emissions will be cut by 19 percent by 2030.

ANALYST RESEARCH HIGHLIGHTS

Automotive Finco Corp: Canaccord Genuity cuts to hold from speculative buy

Dollarama Inc: CIBC raises target price to C$168 from C$157; outperformer

Lundin Mining Corp: Berenberg cuts price target to C$7.50; rating hold

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1255; fell 0.62 percent

US crude: $56.17; rose 0.38 percent

Brent crude: $61.63; rose 0.67 percent

LME 3-month copper: $6573.5; rose 0.36 percent

U.S. ECONOMIC DATA DUE ON THURSDAY

0730 Challenger layoffs for Nov: Prior 29,831

0830 Initial jobless claims: Expected 240,000; Prior 238,000

0830 Jobless claims 4-week average: Prior 242,250

0830 Continued jobless claims: Expected 1.908 mln; Prior 1.957 mln

($1= C$1.28)




This article appears in: Politics , Stocks , World Markets


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