April 19, 2017 / 11:32 AM / 3 months ago

CANADA STOCKS-TSX futures rise on higher oil prices

3 Min Read

April 19 (Reuters) - Canada's main stock index was set to start higher on Wednesday as oil prices rose after OPEC reaffirmed its commitment to erode a glut that has dogged markets since 2014.

OPEC Secretary-General Mohammad Barkindo said on Wednesday that all oil producers taking part in a supply-cut pact are committed to bringing global inventories down to the industry's five-year average and restoring stability to the market.

June futures on the S&P TSX index were up 0.17 percent at 7:15 a.m. ET.

Canada's benchmark stock index fell on Tuesday, mirroring U.S. market sentiment, with energy stocks leading declines as the price of crude oil fell.

No major economic releases are scheduled in Canada.

Dow Jones Industrial Average e-mini futures were up 0.14 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.28 percent and Nasdaq 100 e-mini futures were up 0.30 percent.

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Top Stories

Chevron Corp, the second-largest U.S.-based oil company, sold its Canadian gasoline stations and refinery in British Columbia to Parkland Fuel Corp, a marketer of petroleum products, for C$1.46 billion ($1.09 billion).

Analyst Research Highlights

Dollarama Inc: TD Securities cuts rating to "hold" from "buy"

Rogers Communications Inc: Desjardins raises target price to C$62.50 from C$59

Russel Metals Inc: Raymond James raises target price to C$30 from C$26


Gold futures: $1282.3; -0.73 percent

US crude: $52.61; +0.38 percent

Brent crude: $55.16; +0.49 percent

LME 3-month copper: $5639.5; +1.21 percent

u.s. Economic Data Due on Wednesday

No economic releases are scheduled.

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$1.34) (Reporting by Nikhil Kumar in Bengaluru; Editing by Maju Samuel)

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