April 8, 2016 / 11:52 AM / 2 years ago

CANADA STOCKS-Futures up as oil prices rise

April 8 (Reuters) - Canadian stock futures were higher on Friday as oil prices rose on fresh hopes that exporters would agree to freeze their output amid a global glut at a meeting in Doha later this month.

June futures on the S&P TSX index were up 0.5 percent at 7:30 a.m. ET.

March jobs data and House Starts data for March is due at 08:30 a.m. ET

Canada’s main stock index fell to a one-month low on Thursday as lower oil prices weighed on energy stocks, while financials and consumer discretionary stocks also lost ground as investor appetite for risk waned globally.

Dow Jones Industrial Average e-mini futures were up 0.45 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were up 0.54 percent and Nasdaq 100 e-mini futures were up 0.56 percent.

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

TOP STORIES

TransCanada Corp said on Thursday about 400 barrels could have spilled in South Dakota from its 590,000 barrel-per-day Keystone crude oil pipeline.

Fairfax India Holdings Corp, part of Canadian billionaire Prem Watsa’s Fairfax Holdings, said it would invest $300 million in privately held Indian petrochemical company Sanmar Chemicals Group through a combination of equity and fixed-income securities.

COMMODITIES AT 7:30 a.m. ET

Gold futures : $1,235.4; -0.06 pct

US crude : $38.56; +3.49 pct

Brent crude : $40.66; +3.12 pct

LME 3-month copper : $4637; -0.3 pct

ANALYST RESEARCH HIGHLIGHTS

Great-West Lifeco Inc : Barclays raises target price to C$36 from C$35

Cenovus Energy Inc : Barclays raises target price to C$18 from C$17

Husky Energy Inc : Barclays raises target price to C$21 from C$17

Manulife Financial Corp : Barclays cuts target price to C$21 from C$22

Sun Life Financial Inc : Barclays raises target price to C$45 from C$44

Suncor Energy Inc : Barclays raises target price to C$43 from C$40

First Quantum Minerals : NBF cuts target price to C$9.50 from C$11

Imperial Oil Ltd : Barclays raises target price to C$45 from C$43

Lundin Mining Corp : National Bank Financial cuts target to C$4.75 from C$5.25

Teck Resources Ltd : Nomura raises target price to C$8.50 from C$6

Air Canada : CIBC cuts target price to C$12 from C$15

U.S. ECONOMIC DATA DUE ON FRIDAY

1000 Wholesale inventories mm for Feb: Expected -0.1 pct; Prior 0.2 pct

1000 Wholesale sales mm for Feb: Expected 0.0 pct; Prior -1.7 pct

1030 ECRI Weekly Index: Prior 133.0

1030 ECRI weekly annualized: Prior 0.7 pct

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$1.31)

Reporting by Anjali James in Bengaluru; Editing by Anupama Dwivedi

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