July 25, 2016 / 11:42 AM / in a year

CANADA STOCKS-Futures indicate slightly higher start to week

July 25 (Reuters) - Stock futures pointed to a slightly higher opening for Canada’s main stock index on Monday after G20 finance chiefs agreed over the weekend to use “all policy tools” to lift global growth.

Policymakers from the Group of 20 countries vowed to support global growth and better share the benefits of trade, in a meeting dominated by the impact of Britain’s exit from Europe and fears of rising protectionism.

Investors are also looking forward to corporate earnings and meetings of the U.S. Federal Reserve and Bank of Japan.

Oil prices remained under pressure amid worries that a global glut of crude and refined products would weigh on markets for some time.

September futures on the S&P TSX index were up 0.12 percent at 7:15 a.m. ET.

Canada’s main stock index hit its highest close in a year on Friday, notching a fourth straight weekly gain as yield-producing telecom and utility stocks found favor, offsetting a plunge in shares of Valeant Pharmaceuticals International Inc.

No major Canadian economic releases are scheduled.

Dow Jones Industrial Average e-mini futures were up 0.05 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.03 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

Authorities have recovered at least 40 percent of the 1,572 barrels of oil that leaked into a major western Canadian river, but the spill is still moving downstream and threatening the drinking water of riverside communities, officials said on Sunday.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,313.80; -0.70 pct

US crude : $43.90; -0.66 pct

Brent crude : $45.40; -0.63 pct

LME 3-month copper : $4,939; +0.39 pct

ANALYST RESEARCH HIGHLIGHTS

Arizona Mining Inc : RBC raises target price to C$3 from C$2

Equitable Group : National Bank Financial raises target price to C$70 from C$69

Hudbay Minerals : Canaccord Genuity raises target price to C$7 from C$6

U.S. ECONOMIC DATA DUE ON MONDAY

1030 Dallas Fed Manufacturing Business Index for Jul: Prior -18.3

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$1.32) (Reporting by Nikhil Kumar in Bengaluru; Editing by Sriraj Kalluvila)

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