January 23, 2015 / 12:37 PM / in 3 years

CANADA STOCKS-TSX poised to open higher as oil rises

Jan 23 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index after crude prices rose amid uncertainty about Saudi Arabia’s oil policy following the death of King Abdullah.

March futures on the S&P TSX index were up 0.15 percent at 7.15 a.m. ET.

CPI inflation data for December and retail sales for November are due at 8:30 a.m. ET.

Canada’s main stock index advanced to its highest in almost two months on Thursday, buoyed by the European Central Bank’s massive stimulus measures and an unexpected rate cut by the Bank of Canada.

Dow Jones Industrial Average e-mini futures were up 0.08 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were up 0.01 percent and Nasdaq 100 e-mini futures were down 0.02 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

The Canadian Broadcasting Corp will no longer allow its on-air journalists to receive payment for appearances at external events, the public broadcaster said on Thursday.

COMMODITIES AT 7.15 a.m. ET

Gold futures : $1,298.7; -0.15 pct

US crude : $46.49; +0.41 pct

Brent crude : $49.42; +1.88 pct

LME 3-month copper : $5,560; -1.85 pct

ANALYST RESEARCH HIGHLIGHTS

First Quantum Minerals Ltd : Goldman Sachs cuts target to C$18.75 from C$26.50

Canadian Pacific Railway Ltd : Canaccord Genuity ups target to C$218 from C$204

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 National Activity Index for Dec: Prior 0.73

0945 Markit Manufacturing PMI Flash for Jan: Expected 54.0; Prior 53.9

1000 Existing home sales for Dec: Expected 5.06 mln; Prior 4.93 mln

1000 Existing home sales change for Dec: Expected 2.4 pct; Prior -6.1 pct

1000 Leading Index change mm for Dec: Expected 0.4 pct; Prior 0.6 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$1.24 Reporting by Abhinav Kaul in Bengaluru; Editing by Saumyadeb Chakrabarty

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