TSX futures edge higher on upbeat Thomson Reuters revenue -Breaking
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© Reuters. FILEPHOTO – The Toronto Stock Exchange signs are displayed on a Toronto Tower doorway in Toronto, Ontario Canada, January 23, 2019. REUTERS/Chris Helgren(Reuters) – Futures on Canada’s principal stock index edged up Tuesday, after Thomson Reuters (NYSE) recorded positive quarterly revenue but was held back by a drop in crude prices.
Thomson Reuters Corp. reported higher revenues in its fourth quarter, and increased its dividend and sales forecast. However, it stated that operating profit decreased from a year earlier.
The resumption and subsequent increase in inventory triggered a drop in crude oil prices.
March futures on the S&P/TSX index were 0.2% higher at 08:11 a.m. ET.
Pre-resumption U.S. – Iran negotiations were reopened, and oil prices fell towards $90 a barrel. This could bring back an international nuclear deal and increase oil exports from the OPEC producer. [O/R]
The possibility of an American increase in crude oil inventories could also put pressure on crude prices. According to analysts, inventories increased by 700,000. barrels during the week ending February 4.
The Toronto Stock Exchange’s S&P/TSX composite index ended 0.2% lower on Monday, consolidating last week’s sharp gains, as declines for technology and industrial shares offset gains for the materials group. ()
They were 0.1% higher at 8:11 am, up 36 points ET was down 2.25 point, or 0.055%, and down 23.5 points (or 0.16%). [.N]
TOP STORIES [TOP/CAN]
Cenovus Energy Inc (NYSE:) Inc suffered a larger quarterly loss largely due to an on-cash impairment in U.S. manufacturing of C$1.9billion ($1.50billion).
HIGHLIGHTS ON ANALYST REsearch [RCH/CA]
CI Financial Corp. TD Securities reduces target price from C$32 to C$28
Fairfax Financial Holdings – National Bank of Canada – Ups PT to C$1,000 Starting at C$825
Prairiesky Royalty Ltd. CIBC raises the target price to C$22, from C$20
Sprott Inc. TD Securities lowers the target price for Sprott Inc to C$55, from C$61
COMMODITIES AT 7:00 a.m. ET
: $1,817; -0.2% [GOL/]
US crude oil: $89.69, -1.8% [O/R]
: $90.84; -2% [O/R]
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