TSX poised to open higher as oil prices rally

(Reuters) – Futures pointed to a higher opening for Canada’s main stock index on Thursday, as oil prices rise after the International Energy Agency (IEA) warned of output capacity limits.

FILE PHOTO: A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. REUTERS/Mark Blinch

Crude prices recovered from sharp losses in the previous session when Libya said it would resume oil exports and received a boost from the IEA, which said the world’s oil supply cushion “might be stretched to the limit” due to production losses.

September futures on the S&P/TSX index were up 0.71 percent at 7:15 a.m. ET.

New housing price index numbers are due at 08:30 a.m. ET

The Toronto Stock Exchange’s S&P/TSX fell 131.40 points, or 0.79 percent, to 16,417.32 on Wednesday.

Dow Jones Industrial Average e-mini futures were up 0.73 percent at 7:15 a.m. ET, while S&P 500 e-mini futures rose 0.56 percent and Nasdaq 100 e-mini futures were up 0.51 percent.

Reporting by Debanjan Bose in Bengaluru; Editing by Bernard Orr

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