May 5 (Reuters) - Canada's main stock index was set to open
higher on Thursday, tracking gains in oil prices as a huge
wildfire near Canada's oil sands region and escalating tensions
in Libya stoked concerns of a near-term supply shortage.
June futures on the S&P TSX index SXFc1 were up 0.39
percent at 7:15 a.m. ET.
Canada's main stock index fell to a two-week low on
Wednesday as resource and financial stocks lost ground, while
domestic trade data disappointed.
Building permits data is due at 8:30 a.m. ET on Thursday.
Dow Jones Industrial Average e-mini futures 1YMc1 were up
0.3 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1
were up 0.32 percent and Nasdaq 100 e-mini futures NQc1 were
up 0.32 percent.
TOP STORIES
Manulife Financial Corp MFC.TO , Canada's biggest life
insurer, reported a 45 percent jump in first-quarter earnings,
boosted by strong insurance sales in Asia and gains from
interest rate movements.
Telus Corp T.TO TU.N , one of Canada's three big telecom
providers, said it would sell a 35 percent stake in outsourcing
service provider Telus International in a deal that values the
unit at C$1.2 billion ($934.80 million).
Canadian Natural Resources Ltd CNQ.TO CNQ.N , the
country's largest independent petroleum producer, reported a
smaller quarterly loss as cost cuts paid off amid a slump in oil
prices. AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1,280.10; +1.53 pct GOL/
US crude CLc1 : $45.04; +2.88 pct O/R
Brent crude LCOc1 : $45.66; +2.35 pct O/R
LME 3-month copper CMCU3 : $4,794.00; -1.5 pct MET/L
ANALYST RESEARCH HIGHLIGHTS
Gildan Activewear Inc GIL.TO : National Bank Financial
raises target price to C$43 from C$42; rating "outperform"
Imperial Oil Ltd IMO.TO : TD Securities raises target price
to C$51 from C$47
Russel Metals Inc RUS.TO : TD Securities raises target
price to C$21 from C$19.50; rating "hold"
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Initial jobless claims : Expected 260,000; Prior
257,000
0830 Jobless claims 4- week average: Prior 256,000
0830 Continued jobless claims: Expected 2.133 mln; Prior
2.130 mln
($1= C$1.28)