TSX futures trade higher on global cues

(Reuters) - Stock futures pointed to a higher open for Canada’s main stock index on Friday, tracking gains in world stocks as political uncertainties in Italy and Spain ended.

In Italy, anti-establishment parties revived coalition plans on Thursday, while in Spain Socialist Pedro Sanchez took over as prime minister on Friday, after outgoing leader Mariano Rajoy lost a confidence vote.

However, the prospects of a full-blown trade war with the United States continues to loom over the markets.

Canada decided to impose retaliatory tariffs on C$16.6 billion ($12.8 billion) worth of U.S. exports and challenge U.S. steel and aluminum tariffs under the North American Free Trade Agreement and the World Trade Organization, Canadian Foreign Minister Chrystia Freeland said on Thursday.

June futures on the S&P TSX index were up 0.46 percent at 7:15 a.m. ET.

Markit’s seasonally adjusted manufacturing PMI data for May is due at 9:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX rose 12.84 points, or 0.08 percent, to 16,061.50 on Thursday.

Dow Jones Industrial Average e-mini futures were up 0.51 percent at 7:15 a.m. ET, while S&P 500 e-mini futures rose 0.44 percent and Nasdaq 100 e-mini futures were 0.34 percent higher. [.N]