April 12, 2018 / 11:33 AM / 11 days ago

CANADA STOCKS-TSX futures rise as Syria tensions ease

April 12 (Reuters) - Futures for Canada’s main index were higher on Thursday as investor worries over a swift American military action in Syria eased following U.S. President Donald Trump’s latest comments.

June futures on the S&P TSX index were up 0.23 percent at 7:15 a.m. ET.

U.S. President Donald Trump amended on Thursday an earlier warning of a quick military strike against Syria in retaliation for a suspected chemical weapons attack on civilians, saying it “could be very soon or not so soon at all”.

His comments on Wednesday had sparked concerns of a conflict with Russia, Syria’s main ally.

New housing price index for February is due at 08:30 a.m. ET.

Canada’s benchmark stock index was little changed on Wednesday as higher commodity prices amid geopolitical concerns boosted the shares of energy and materials companies, offsetting a decline in the heavily-weighted financials sector.

Dow Jones Industrial Average e-mini futures were up 0.42 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.45 percent and Nasdaq 100 e-mini futures were up 0.55 percent.

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TOP STORIES

Canadian Prime Minister Justin Trudeau is set to pile pressure on British Columbia’s provincial government to drop its resistance to a pipeline project, but will try to avoid tougher measures that might alienate voters who helped his Liberals win power, a source close to the matter said on Wednesday.

ANALYST RESEARCH HIGHLIGHTS

CI Financial Corp: Barclays cuts price target to C$31 from C$32

IGM Financial Inc: Barclays cuts price target to C$40 from C$42

Manulife Financial Corp: Desjardins cuts target price to C$28 from C$30

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1347; fell 0.7 percent

US crude: $66.7; fell 0.18 percent

Brent crude: $71.82; fell 0.33 percent

LME 3-month copper: $6793.5; fell 2.25 percent

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Import prices mm for Mar: Expected 0.2 pct; Prior 0.4 pct

0830 Export prices mm for Mar: Expected 0.2 pct; Prior 0.2 pct

0830 Initial jobless claims: Expected 230,000; Prior 242,000

0830 Jobless claims 4-week average: Prior 228,250

0830 Continued jobless claims: Expected 1.848 mln; Prior 1.808 mln

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$1.26) (Reporting by Sourav Bose in Bengaluru; Editing by Sriraj Kalluvila)

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