January 26, 2016 / 12:41 PM / 2 years ago

CANADA STOCKS-Futures gain as oil edges higher

Jan 26 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Tuesday as oil prices rose on hopes that OPEC and non-OPEC producers may be edging closer to a deal to tackle one of the biggest supply gluts in decades.

March futures on the S&P TSX index were up 0.63 percent at 7:30 a.m. ET.

No major economic events are scheduled for the day.

The Toronto Stock Exchange's S&P/TSX composite index fell on Monday as last week's crude-induced rally fizzled out and a fall in oil prices weighed on the shares of energy and financial companies.

Dow Jones Industrial Average e-mini futures were up 0.22 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were up 0.32 percent and Nasdaq 100 e-mini futures were up 0.27 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Rogers Communications Inc said on Monday it would cut around 400 media jobs starting in February, the latest Canadian media outlet to fire staff in a tough market dealing with sliding advertising and the migration of audiences online.

OMERS Ventures, one of Canada's biggest venture capital firms, plans to raise up to C$300 million ($210 million) through the launch of a third fund in 2017 to invest in early stage technology firms, its chief executive officer said on Monday.

A worker at Centerra Gold Inc's Kumtor mine in Kyrgyzstan was fatally injured while working the night shift on Sunday, the Canadian mining company said on Monday.

COMMODITIES AT 7:30 a.m. ET

Gold futures : $1,112.90; +0.69 pct

US crude : $30.57; +0.76 pct

Brent crude : $30.72 +0.72 pct

LME 3-month copper : $4,501.50; +1.92 pct

ANALYST RESEARCH HIGHLIGHTS

Cenovus : Goldman Sachs raises rating to "buy" from "neutral"

Detour Gold Corp : BMO raises target price to C$17 from C$16.75; rating "market perform"

Saputo Inc : RBC raises price target to C$40 from C$38; rating "outperform"

U.S. ECONOMIC DATA DUE ON TUESDAY

0855 Redbook mm: Prior -1.2 pct

0855 Redbook yy: Prior 1.4 pct

0900 Monthly home price mm for Nov: Prior 0.5 pct

0900 Monthly home price yy for Nov: Prior 6.1 pct

0900 Monthly Home Price Index for Nov: Prior 227.5

0900 CaseShiller 20 mm SA for Nov: Expected 0.8 pct; Prior 0.8 pct

0900 CaseShiller 20 mm NSA for Nov: Expected 0.1 pct; Prior 0.1 pct

0900 CaseShiller 20 yy for Nov: Expected 5.7 pct; Prior 5.5 pct

0945 Markit Composite Flash PMI for Jan: Prior 54.0

0945 Markit Services PMI Flash for Jan: Expected 54.0; Prior 54.3

1000 Consumer Confidence for Jan: Expected 96.5; Prior 96.5

1000 Rich Fed Composite Index for Jan: Prior 6

1030 Texas Service Sector Outlook for Jan: Prior 3.3

1030 Dallas Fed Services Revenue for Jan: Prior 15.2

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1= C$1.42) (Reporting by Nikhil Kumar in Bengaluru; Editing by Anil D'Silva)

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