CANADA STOCKS-TSX futures rise as oil hits 3-week high

Mon May 15, 2017 7:44am EDT
 
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May 15 (Reuters) - Stock futures for Canada's main stock index were higher on Monday, helped by a bounce in oil prices following top producers Saudi Arabia and Russia's comment on the extension of a supply cut.

Oil hit a three-week high above $52 a barrel after Saudi Arabia and Russia said an output cut needed to be extended until March 2018 to rein in a global crude glut.

June futures on the S&P TSX index were up 0.16 percent at 7:15 a.m. ET.

No economic data is scheduled for release.

Canada's main stock index closed marginally lower on Friday, weighed by alternative lender Home Capital Group Inc after it acknowledged uncertainty about its ability to continue as a going concern, while natural resource stocks lent support.

Dow Jones Industrial Average e-mini futures were up 0.17 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.1 percent and Nasdaq 100 e-mini futures were down 0.02 percent.

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