May 11 (Reuters) - Futures for Canada's main stock index
edged up on Thursday, tracking higher crude oil prices, while
weaker metals limited the gains.
June futures on the S&P/TSX index were up 0.2% at
6:40 a.m. ET.
Contracts linked to crude oil clawed back some of the losses
in the previous session after data from the United States
reflected a stronger demand for transport fuels. Prices of precious and base metals declined against a
stronger dollar, and subdued data from top-consumer China
further dimmed the demand outlook for raw materials. Among company news, potash producer Nutrien Ltd cut
its annual profit forecast as elevated fertilizer prices owed to
Western sanctions on Russia and Belarus weighed on demand.
Manulife Financial Corp reported a quarterly profit
that missed analysts' estimates as the insurer attracted less
capital from investors spooked by recent market volatility.
Algonquin Power & Utilities Corp said the power
generator would be conducting a strategic review of its
renewable group with the objective of enhancing shareholder
value.
On Wednesday, the Toronto Stock Exchange's S&P/TSX composite
index ended 0.4% lower, weighed down by losses in
materials and energy stocks. Dow e-minis were down 4 points, or 0.01% at 6:45
a.m. ET, while S&P 500 e-minis were up 8.75 points, or
0.21%, and Nasdaq 100 e-minis were up 31.25 points, or
0.23%. COMMODITIES AT 6:40 a.m. ET
Gold futures : $2,033.1; -0.2% US crude : $72.99; +0.6% Brent crude : $76.87; +0.6% U.S. ECONOMIC DATA DUE ON THURSDAY
Weekly jobless claims due at 8:30 am ET
April Producer Prices Index data due at 8:30 am ET
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(Reporting by Johann M Cherian in Bengaluru; Editing by Shilpi
Majumdar)
