CANADA STOCKS-Futures higher as oil prices rise

Wed Mar 9, 2016 7:52am EST
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March 9 (Reuters) - Canada's main stock index was set to open higher on Wednesday after oil prices held above $40 a barrel on speculation that the world's largest exporters could agree this month to freeze production.

March futures on the S&P TSX index were up 0.47 percent at 7:40 a.m. ET.

The Bank of Canada, which meets on Wednesday, is expected to hold interest rates at 0.50 percent as it allows the effects of last year's two rate cuts to filter through the economy. The bank will announce its decision at 10:00 a.m. ET.

Canada's main stock index broke an eight session winning streak on Tuesday as lower commodity prices and weak Chinese data weighed on resource stocks, but financials and defensive stocks rose and the index still held near three-month highs.

Dow Jones Industrial Average e-mini futures were up 0.52 percent at 7:40 a.m. ET. S&P 500 e-mini futures were up 0.53 percent and Nasdaq 100 e-mini futures were up 0.54 percent.

(Morning News Call newsletter; The Day Ahead newsletter


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