June 6, 2016 / 11:27 AM / a year ago

CANADA STOCKS-Futures set to open higher as oil prices rise

3 Min Read

June 6 (Reuters) - Futures pointed to a higher opening for Canadian stocks on Monday as brent crude oil prices rose, lifted by a plunge in the dollar that could spur demand just as attacks on Nigerian oil infrastructure tighten supplies.

However, signs of recovering U.S. output capped gains.

June futures on the S&P TSX index were up 0.33 percent at 7:15 a.m. ET.

No major economic events are scheduled for the day.

Canada's main stock index gained on Friday as gold miners jumped with the precious metal after weak U.S. jobs data hurt the U.S. dollar, offsetting losses for financial stocks and some energy companies.

Dow Jones Industrial Average e-mini futures were up 0.15 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.08 percent and Nasdaq 100 e-mini futures were up 0.13 percent.

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

Top Stories

Governments and central banks need a certain amount of coordination so they can discuss policies and consider the implications on debt levels and financial stability over the medium-term, Bank of Canada Governor Stephen Poloz said on Saturday.

Bombardier is stepping up efforts to woo the airline industry with its more efficient new CSeries jet, hoping to win new orders without falling under the spell of prolonged discounting on price.

Real estate-focused private equity firm KingSett Capital is set to acquire 50 percent of Scotia Plaza, Canada's second tallest office building, from Dream Office REIT and H&R REIT, according to two sources familiar with the situation.


Gold futures : $1,240.6; +0.50 pct

US crude : $49.13; +1.05 pct

Brent crude : $50.15; +1.03 pct

LME 3-month copper : $4,713.50; +0.59 pct

Analyst Research Highlights

Husky Energy Inc : Raymond James raises target price to C$18 from C$16

Imperial Oil Ltd : Raymond James raises target price to C$51 from C$48

Keyera Corp : Raymond James cuts target price to C$46 from C$47

u.s. Economic Data Due on Monday

1000 Employment Trends for May: Prior 128.3

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$1.30) (Reporting by Riniki Sanyal in Bengaluru)

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