October 3, 2018 / 11:41 AM / 2 months ago

CANADA STOCKS-Futures up as oil prices rise

Oct 3 (Reuters) - Futures for Canada's main stock index edged higher on Wednesday, as oil prices rose on expectations that U.S. sanctions on Iran will tighten supply and strain the ability of Saudi Arabia and other producers to pump more.

December futures on the S&P/TSX index were up 0.32 percent at 6:55 a.m. ET.

The Toronto Stock Exchange's S&P/TSX fell 87.20 points, or 0.54 percent, to 16,017.23 on Tuesday.

Dow Jones Industrial Average e-mini futures were up 0.2 percent at 6:55 a.m. ET, while S&P 500 e-mini futures were up 0.26 percent and Nasdaq 100 e-mini futures were up 0.27 percent.

TOP STORIES

Canadian oil and gas producer Husky Energy Inc said on Tuesday it had formally offered to acquire all the outstanding common shares of MEG Energy Corp.

The Canadian Food Inspection Agency said on Tuesday grocery and drugstore chain Loblaw Cos Ltd is recalling certain $10 chicken fries in the wake of a potential Salmonella contamination.

ANALYST RESEARCH HIGHLIGHTS

Canadian Pacific Railway Ltd: Raymond James raises target price to C$305 from C$285

Corus Entertainment Inc: CIBC cuts price target to C$7 from C$8

COMMODITIES AT 6:55 a.m. ET

Gold futures: $1204.4; +0.02 percent

U.S. crude: $75.27; +0.05 percent

Brent crude: $84.88; +0.09 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0815 ADP national employment for Sep: Expected 185,000; Prior 163,000

0945 Markit Composite Final PMI for Sep: Prior 53.4

0945 Markit Services PMI Final for Sep: Prior 52.9

1000 ISM N-Manufacturing PMI for Sep: Expected 58; Prior 58.5

1000 ISM N-Manufacturing Business Activity for Sep: Expected 60.3; Prior 60.7

1000 ISM N-Manufacturing Employment Index for Sep: Prior 56.7

1000 ISM N-Manufacturing New Orders Index for Sep: Prior 60.4

1000 ISM N-Manufacturing Price Paid Index for Sep: Prior 62.8

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$1.28) (Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by Maju Samuel)

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