May 24, 2018 / 11:37 AM / a month ago

CANADA STOCKS-TSX futures flat as drop in oil prices weigh

May 24 (Reuters) - Stock futures pointed to a flat opening for Canada's main stock index on Thursday, with oil prices slipping on concerns that OPEC could raise output for the first time since 2016.

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

The Toronto Stock Exchange's S&P/TSX fell 10.99 points to 16,133.80 on Wednesday, largely dragged down by a fall in Royal Bank of Canada.

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 fell 0.06 percent and Nasdaq 100 e-mini futures was up 0.04 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Royal Bank of Canada, Canada's biggest lender by market value, on Thursday posted an 11 percent rise in its second-quarter earnings, helped by strong growth at its wealth management and retail businesses.

Toronto-Dominion Bank on Thursday reported second-quarter earnings which were ahead of market expectations, benefiting from a strong performance at its domestic retail business.

Canada has blocked a proposed C$1.51 billion ($1.18 billion) takeover of construction company Aecon by a Chinese state builder on national security grounds, underscoring rising wariness of Chinese firms buying up assets in Western countries.

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1295.6; 0.47 pct

US crude: $70.98; -1.20 pct

Brent crude: $78.8; -1.25 pct

LME 3-month copper: $6865; -0.03 pct

ANALYST RESEARCH HIGHLIGHTS

• Aecon Group: RBC cuts price target to C$17 from C$20.

• Canadian Imperial Bank of Commerce: Barclays raises price target to C$138 from C$133.

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims: Expected 220,000; Prior 222,000

0830 Jobless claims 4-week average: Prior 213,250

0830 Continued jobless claims: Expected 1.754 mln; Prior 1.707 mln

0900 Monthly home price mm for Mar: Prior 0.6 pct

0900 Monthly home price yy for Mar: Prior 7.2 pct

0900 Monthly Home Price Index for Mar: Prior 261.1

1000 Existing home sales for Apr: Expected 5.57 mln; Prior 5.60 mln

1000 Existing home sales percentage change for Apr: Expected -0.2 pct; Prior 1.1 pct

1100 KC Fed Manufacturing for May: Prior 33

1100 KC Fed Composite Index for May: Prior 26

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$1.29 Reporting by Benny Thomas in Bengaluru; Editing by Sriraj Kalluvila

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