CANADA STOCKS-TSX futures gain as oil prices rise

Mon Apr 24, 2017 7:56am EDT
 
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April 24 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Monday as oil prices rose driven by expectations that OPEC will extend output cuts till the end of 2017.

June futures on the S&P TSX index were up 0.9 percent at 7:15 a.m. ET.

Canadian wholesale trade is due at 8:30 a.m. ET.

Canada's main stock index ended barely lower on Friday as bank stocks pulled back with lower bond yields after weak inflation data and energy stocks shrugged off an oil slide to notch gains.

An OPEC and non-OPEC technical committee recommended on Friday that producers extend a global deal to cut oil supplies for another six months from June, a source familiar with the matter said.

Canadian National Railway, Canada's largest railroad company, is expected to report a rise in quarterly revenue as it moves higher volumes of Canadian grains and U.S. soybeans, refined petroleum products and petroleum coke. The company is scheduled to report quarterly results after the closing bell on Monday.

Dow Jones Industrial Average e-mini futures were up 1.01 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 1.15 percent and Nasdaq 100 e-mini futures were up 1.06 percent.

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