March 26, 2019 / 11:39 AM / 2 months ago

CANADA STOCKS-TSX futures rise on higher oil prices

March 26 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Tuesday, as oil prices rose with OPEC-led supply cuts and expectations of lower U.S. inventories countering concerns about global economic growth.

The American Petroleum Institute is scheduled to release this week's first crude supply report, which is expected to show that U.S. inventories have fallen by 2.4 million barrels in what would be a third consecutive weekly decline.

June futures on the S&P/TSX index were up 0.41 percent at 7:05 a.m. ET.

The Toronto Stock Exchange's S&P/TSX closed down 23.47 points, or 0.15 percent, at 16,065.86 on Monday.

Dow Jones Industrial Average e-mini futures were up 0.56 percent at 7:05 a.m. ET, while S&P 500 e-mini futures were up 0.53 percent and Nasdaq 100 e-mini futures were up 0.52 percent.

TOP STORIES

China has suspended clearance of Canadian canola shipments by Viterra Inc and related companies from March 26, the General Administration of Customs said in a statement on its website.

Kinder Morgan Inc has dropped out of a recently proposed U.S. Gulf Coast deepwater crude export venture, the project's leader Enbridge Inc said on Monday.

ANALYST RESEARCH HIGHLIGHTS

Emera Inc: National Bank of Canada raises target price to C$51 from C$50

TransAlta Corp: RBC raises target price to C$11 from C$9

Lundin Mining Corp: Morgan Stanley cuts price target to C$8.60 from C$8.70

COMMODITIES AT 7:05 a.m. ET

Gold futures: $1314.5; -0.61 percent

US crude: $59.6; +1.33 percent

Brent crude: $67.82; +0.91 percent

U.S. ECONOMIC DATA DUE ON TUESDAY

0830 Building permits: number for Feb: Expected 1.300 mln; Prior 1.317 mln

0830 Build permits: change mm for Feb: Prior -0.7 pct

0830 Housing starts number for Feb: Expected 1.213 mln; Prior 1.230 mln

0830 House starts mm: change for Feb: Prior 18.6 pct

0900 Monthly home price mm for Jan: Prior 0.3 pct

0900 Monthly home price yy for Jan: Prior 5.6 pct

0900 Monthly Home Price Index for Jan: Prior 270.2

0900 Caseshiller 20 mm SA for Jan: Expected 0.3 pct; Prior 0.2 pct

0900 Caseshiller 20 mm NSA for Jan: Prior -0.2 pct

0900 Caseshiller 20 yy for Jan: Expected 4.0 pct; Prior 4.2 pct

1000 Consumer Confidence for Mar: Expected 132; Prior 131.4

1000 Rich Fed Composite Index for Mar: Prior 16

1000 Rich Fed, Services Index for Mar: Prior 17

1000 Rich Fed Manufacturing Shipments for Mar: Prior 12

1030 Texas Service Sector Outlook for Mar: Prior 2

1030 Dallas Fed Services Revenues for Mar: Prior 19.2

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 Maju Samuel)

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