February 29, 2016 / 12:41 PM / a year ago

CANADA STOCKS-Futures higher as oil prices rise

3 Min Read

Feb 29 (Reuters) - Canada's main stock index looked set to open slightly higher on Monday as oil prices gained on rising hopes the market has bottomed out.

March futures on the S&P TSX index were up 0.16 percent at 7:30 a.m. ET.

Current account and producer prices data are due at 8:30 a.m. ET.

Canada's main stock index rose on Friday, helped by gains in some major banks and energy companies and by a jump in shares of auto parts maker Magna International Inc, which reported strong European and North American demand.

Dow Jones Industrial Average e-mini futures were down 0.23 percent at 7:30 a.m. ET. S&P 500 e-mini futures were down 0.19 percent and Nasdaq 100 e-mini futures were down 0.34 percent.

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

Top Stories

Valeant Pharmaceuticals International said on Sunday that Chief Executive Officer Michael Pearson would return from medical leave effective immediately, and it postponed the release of its fourth-quarter results planned for Monday.

A proposed Canadian government bailout of Bombardier Inc's new CSeries jet manufacturing program would reduce the company's stake in the money-losing aircraft, taking it off the plane maker's books and boosting results in the short-term, two sources familiar with the matter said.


Gold futures : $1,232.00; +1.00 pct

US crude : $32.86; +0.27 pct

Brent crude : $35.48; +1.08 pct

LME 3-month copper : $4,692.00; -0.30 pct

Analyst Research Highlights

Aecon Group Inc : CIBC raises target price to C$17 from C$16

Semafo Inc : RBC raises target price to C$5 from C$4.25; rating "sector perform"

Lundin Mining Corp : Berenberg starts with "hold" rating; target price C$4

u.s. Economic Data Due on Monday

0945 Chicago PMI for Feb: Expected 53.0; Prior 55.6

1000 Pending Homes Index for Jan: Prior 106.8

1000 Pending sales change mm for Jan: Expected 0.5 pct; Prior 0.1 pct

1030 Dallas Fed Manufacturing Business Index for Feb: Prior -34.60

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$1.36) (Reporting by Nikhil Kumar in Bengaluru; Editing by Anil D'Silva)

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