CANADA STOCKS-Futures point to higher open as oil rises

Fri Feb 26, 2016 7:44am EST
 
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Feb 26 (Reuters) - Canada's main stock index looked set to follow global markets higher as oil prices rose and investors focused on a meeting of G-20 leaders that kicked off in Shanghai on Friday.

China reassured global finiancial leaders at the meeting that it would not devalue its currency again but look at other means to support its economy.

Oil prices gained more than 1 percent as hopes of OPEC action outweighed concerns over fundamental oversupply.

March futures on the S&P TSX index were up 0.67 percent at 7:15 a.m. ET.

Investors will also focus on U.S. fourth-quarter GDP numbers, due at 8:30 a.m. ET.

Canada's main stock index notched a small gain on Thursday as two major banks rose after reporting quarterly numbers, while energy stocks weighed despite a late rally in crude prices.

Dow Jones Industrial Average e-mini futures were up 0.46 percent at 7:15 a.m. ET. S&P 500 e-mini futures were up 0.46 percent and Nasdaq 100 e-mini futures were up 0.54 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

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