May 4 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Thursday ahead of quarterly updates from some major companies including SNC Lavalin and Mitel Networks.
June futures on the S&P TSX index SXFc1 were up 0.2 percent at 7:15 a.m. ET.
Investors will get a look at Canada's trade balance report for March, which is expected to have narrowed to C$800 million.
Economists will be looking to see whether exports picked back up after tumbling by the most in nearly a year in February. Statistics Canada is scheduled to release the data at 8:30 a.m. ET ECONCA .
Canada's main stock index retreated on Wednesday as lower commodity prices weighed on resource stocks, while negative sentiment around troubled Home Capital Group Inc HCG.TO spilled over into the broader financial sector. Jones Industrial Average e-mini futures 1YMc1 were up 0.31 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.3 percent and Nasdaq 100 e-mini futures NQc1 were up 0.34 percent. .N
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TOP STORIES TOP/CAN
Canadian oil and gas producer Penn West Petroleum Ltd PWT.TO PWE.N reported a quarterly profit, compared to a year-ago loss, helped by an uptick in crude prices and gains from asset sales. Natural Resources Ltd CNQ.TO , the country's largest independent petroleum producer, reported a first-quarter profit, compared with a loss a year earlier, helped by an uptick in crude prices. Financial Corp MFC.TO , Canada's biggest life insurer, on Wednesday reported a rise in first-quarter earnings, slightly beating market forecasts with help from strong sales in Asia. RESEARCH HIGHLIGHTS RCH/CA
Gildan Activewear Inc GIL.TO : Desjardins raises target price to C$42 from C$38
Goeasy Ltd GSY.TO : Raymond James raises target price to C$41 from C$36
Loblaw Companies Ltd L.TO : BMO raises target price to C$85 from C$71
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1232.5; fell 1.12 percent GOL/
US crude CLc1 : $47.25; fell 1.19 percent O/R
Brent crude LCOc1 : $50.18; fell 1.2 percent O/R
LME 3-month copper CMCU3 : $5569; fell 0.55 percent MET/L
U.S. ECONOMIC DATA DUE ON FRIDAY
08:30 International trade mm for Mar: Expected -$44.5 bln; Prior -$43.6 bln
08:30 Goods trade balance (R) for Mar: Prior -$64.81 bln
08:30 Initial jobless claims: Expected 247,000; Prior 257,000
08:30 Jobless claims 4- week average: Prior 242,250
08:30 Continued jobless claims: Expected 2.000 mln; Prior 1.988 mln
08:30 Labor costs preliminary for Q1: Expected 2.5 pct; Prior 1.7 pct
08:30 Productivity preliminary for Q1: Expected 0.0 pct; Prior 1.3 pct
10:00 Durables ex-defense, R mm for Mar: Prior 0.1 pct
10:00 Durable goods, R mm for Mar: Prior 0.7 pct
10:00 Factory orders mm for Mar: Expected 0.4 pct; Prior 1.0 pct
10:00 Durables ex-transport R mm for Mar: Prior -0.2 pct
10:00 Nondefense capacity ex-air R mm for Mar: Prior 0.2 pct
10:00 Factory ex-transport mm for Mar: Prior 0.4 pct
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Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1 EPOLL/CA
Canadian markets directory CANADA ($1= C$1.37)