CANADA STOCKS-TSX set to open higher as oil holds above $48

Thu Jan 29, 2015 7:23am EST
 
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Jan 29 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Thursday as Brent oil futures held above $48 a barrel, fueled by investors' buying on hopes for a price rebound.

March futures on the S&P TSX index were up 0.20 percent at 7.15 a.m. ET.

No major economic data is due on Thursday.

Canada's main stock index dropped over 1.5 percent on Wednesday after the Federal Reserve's comments about the U.S. economic recovery signaled to investors that the central bank was likely to raise interest rates as planned later this year.

Dow Jones Industrial Average e-mini futures were up 0.51 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were up 0.48 percent and Nasdaq 100 e-mini futures were up 0.27 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

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Potash Corp of Saskatchewan , the world's biggest fertilizer company by market capitalization, reported a better-than-expected quarterly profit, helped by strong potash sales and lower costs.

Canada's No. 2 integrated oil producer and refiner Imperial Oil Ltd said on Wednesday it is considering selling 475 company-owned Esso gas stations.

COMMODITIES AT 7.15 a.m. ET   Continued...