Canada Stocks: TSX set to open higher as oil prices climb

Veren

12/05/2023 12:18

May 12 (Reuters) - Canada's main stock index is set to
bounce back on Friday, after two straight sessions of losses,
tracking a marginal uptick in crude oil prices.
    June futures on the S&P/TSX index  SXFc1  were up 0.5% at
06:57 a.m. ET.
    Contracts tied to precious and base metals ticked lower,
while those linked to crude oil prices were marginally up amid
investor concerns about a gloomy demand outlook for raw
materials.  O/R   MET/L   GOL/ 
    Among company news, Air Canada  AC.TO  reported a
smaller-than-expected quarterly loss as the country's largest
airline benefited from resilient travel demand.
    Sun Life Financial Inc  SLF.TO  reported first-quarter
profit above analysts' estimates as the country's second-biggest
life insurer benefited from strong sales at home and in the U.S.
    Oil and gas producer Crescent Point Energy Corp  CPG.TO 
reported a sharp drop in its first-quarter profit. 
    In the previous session, the Toronto Stock Exchange's
S&P/TSX composite index  .GSPTSE  ended 0.4% lower, weighed down
by commodity-linked stocks.  .TO 
    Dow e-minis  1YMcv1  were up 142 points, or 0.43%, at 06:57
a.m. ET. S&P 500 e-minis  EScv1  were up 17 points, or 0.41%,
and Nasdaq 100 e-minis  NQcv1  were up 30.75 points, or 0.23%.
 .N 
     
    COMMODITIES AT 6:57 a.m. ET 
    Gold futures  GCc2 : $2,011.9; -0.4%  GOL/ 
    US crude  CLc1 : $71.08; +0.3%  O/R 
    Brent crude  LCOc1 : $75.1; +0.1%  O/R 
    
    U.S. ECONOMIC DATA DUE ON FRIDAY
    May University of Michigan consumer sentiment preliminary
data due at 10 am ET
    
    FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
    TSX market report  .TO 
    Canadian dollar and bonds report  CAD/   CA/ 
    Reuters global stocks poll for Canada  EQUITYPOLL1 
 EPOLL/CA 
    Canadian markets directory  CANADA 
    
($1 = 1.3372 Canadian dollars)

 (Reporting by Johann M Cherian and Vansh Agarwal in Bengaluru;
Editing by Shilpi Majumdar)
 ((johann.mcherian@thomsonreuters.com;))