CANADA STOCKS-TSX set to open higher after oil prices gain

Fri Feb 12, 2016 7:27am EST
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Feb 12 (Reuters) - Stock futures pointed to a higher start for Canada's main index on Friday as oil prices rose after comments from the United Arab Emirates' energy minister raised hopes of a coordinated production cut to tackle supply glut.

UAE Energy Minister Suhail bin Mohammed al-Mazrouei said the Organization of the Petroleum Exporting Countries (OPEC) was willing to talk with other exporters about cutting output. He said cheap oil was already forcing some output reductions, which would help rebalance the market.

March futures on the S&P TSX index were up 0.76 percent at 7:15 a.m. ET.

No major economic releases are scheduled for the day .

The Toronto Stock Exchange's S&P/TSX composite index fell on Thursday for a fifth straight session, hitting a three-week low as disappointing corporate earnings added to broad investor unease about the global economy.

Dow Jones Industrial Average e-mini futures were up 0.9 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 1.04 percent and Nasdaq 100 e-mini futures were up 1.02 percent.

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