Oct 19 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Thursday, tracking losses in oil markets as traders took profit amid tensions in Iraq and growing U.S. inventory.
December futures on the S&P TSX index were down 0.37 percent at 7:15 a.m. ET.
Canada’s benchmark stock index reversed course to end lower on Wednesday as weaker energy and materials stocks offset a rally in Canadian Pacific Railway shares following better-than-expected quarterly earnings.
Dow Jones Industrial Average e-mini futures were down 0.41 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.52 percent and Nasdaq 100 e-mini futures were down 0.59 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Oil and gas producer Cenovus Energy, said on Thursday it will sell its Palliser crude oil and natural gas assets in southeastern Alberta to Torxen Energy and Schlumberger Ltd for C$1.3 billion ($1.04 billion) to lower its debt load.
Telecom company Rogers Communications Inc’s quarterly profit more than doubled, helped by strength in its wireless unit, as it added the highest number of postpaid subscribers in eight years.
Canadian Prime Minister Justin Trudeau defended his finance minister on Wednesday amid criticism that Bill Morneau did not place his assets in a blind trust, moving to dampen a growing controversy that threatens to overshadow the government’s agenda.
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,287.7; +0.38 pct
US crude: $51.27; -1.48 pct
Brent crude: $57.37; -1.50 pct
LME 3-month copper: $6,943.50; -0.67 pct
Canadian Pacific Railway: National Bank of Canada ups target price to C$226
GDI Integrated Facility Services: Desjardins starts with buy rating
Lassonde Industries Inc: Desjardins starts with buy rating; C$275 target price
0830 Initial jobless claims: Expected 240,000; Prior 243,000
0830 Jobless claims 4-week average: Prior 25,750
0830 Continued jobless claims: Expected 1.900 mln; Prior 1.889 mln
0830 Philly Fed Business Index for Oct: Expected 22.0; Prior 23.8
0830 Philly Fed 6M Index for Oct: Prior 55.20
0830 Philly Fed Capex Index for Oct: Prior 39.00
0830 Philly Fed Employment for Oct: Prior 6.60
0830 Philly Fed Prices Paid for Oct: Prior 34.40
0830 Philly Fed New Orders for Oct: Prior 29.50
1000 Leading index change mm for Sep: Expected 0.1 pct; Prior 0.4 pct
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$1= C$1.25 Reporting by Pradip Kakoti in Bengaluru; Editing by Savio D'Souza