CANADA STOCKS-Futures point to higher start as oil prices recover

Wed Feb 10, 2016 7:18am EST
 
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Feb 10 (Reuters) - Stock futures pointed to a higher start for Canada's main stock index on Wednesday as oil prices recovered due to the prospect of OPEC and other major producers cooperating to tackle a supply glut.

Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and the Kremlin's oil tsar Igor Sechin proposed that producing countries reduce output by 1 million barrels per day - without saying whether non-OPEC member Russia would cut production.

March futures on the S&P TSX index were up 0.98 percent at 7:15 a.m. ET.

No major economic releases are scheduled for the day .

Canada's main stock index fell to a two-week low on Tuesday, weighed down by bank and energy company shares as crude oil prices tumbled and investors globally worried about negative interest rates.

Dow Jones Industrial Average e-mini futures were up 0.83 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 1.08 percent and Nasdaq 100 e-mini futures were up 1.46 percent.

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

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