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CANADA STOCKS-Futures point to higher open as oil prices edge up

June 16 Stock futures pointed to a higher opening for Canada's main stock index on Friday after oil prices rebounded from 2017 lows.

September futures on the S&P TSX index were up 0.07 percent at 7:15 a.m. ET.

Despite the rise in oil prices, the commodity remained on track for a fourth consecutive week of losses because of the ongoing supply overhang.

Investors are also awaiting Canadian securities data for the month of April, due at 8:30 a.m. ET.

Canada's main stock index fell to a six-month low on Thursday, tracking global markets that declined on concerns over the pace of economic growth, while the energy and materials groups were squeezed by lower prices for oil and gold.

Dow Jones Industrial Average e-mini futures were up 0.13 percent at 7:15 a.m. ET. S&P 500 e-mini futures were up 0.15 percent and Nasdaq 100 e-mini futures were up 0.19 percent.

(Morning News Call newsletter here ; The Day Ahead newsletter here)

TOP STORIES

After its near-collapse seven weeks ago, Canadian lender Home Capital Group Inc is taking steps towards recovery by agreeing to settle a regulatory investigation and lining up new funding.

Lending to small Canadian businesses picked up in April, boosted by activity in consumer-related sectors and suggesting growth in the broader economy was gaining momentum, data showed on Friday.

ANALYST RESEARCH HIGHLIGHTS

Home Capital Group Inc: TD Securities raises target price to C$18 from C$15

Onex Corp: RBC cuts target price to C$107 from C$110

Canadian National Railway Co: CIBC raises target price to C$111 from C$105

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,257.1; +0.2 pct

US crude: $44.83; +0.83 pct

Brent crude: $47.79; +1.27 pct

LME 3-month copper: $5,668.00; +0.12 pct

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Building permits: number for May: Expected 1.250 mln; Prior 1.228 mln

0830 Build permits: change mm for May: Prior -2.5 pct

0830 Housing starts number mm for May: Expected 1.215 mln; Prior 1.172 mln

0830 House starts mm: change for May: Prior -2.6 pct

1000 U Mich Sentiment Preliminary for June: Expected 97.1; Prior 97.1

1000 U Mich Conditions Preliminary for June: Expected 111.7; Prior 111.7

1000 U Mich Expectations Preliminary for June: Expected 87.5; Prior 87.7

1000 U Mich 1-Year inflation preliminary for June: Prior 2.6 pct

1000 U Mich 5-Year Inflation preliminary for June: Prior 2.4 pct

1030 ECRI Weekly Index: Prior 144.5

1030 ECRI weekly annualized: Prior 4.2 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$1.33) (Reporting by Benny Thomas in Bengaluru; Editing by Saumyadeb Chakrabarty)

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