CANADA STOCKS-Futures higher as oil prices surge

Mon Feb 22, 2016 7:36am EST
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Feb 22 (Reuters) - Canada's main stock index looked set to open higher on Monday as oil prices rose after the International Energy Agency said it expected U.S. shale production to fall this year and next.

March futures on the S&P TSX index were up 0.94 percent at 7:15 a.m. ET.

A drop in production could potentially ease a supply glut that has driven oil prices to their lowest in more than a decade and hammered shares of oil and gas companies.

Canadian stocks fell on Friday, led by a drop in health care, energy and financial sector stocks, as crude oil prices tumbled and domestic retail sales disappointed.

Dow Jones Industrial Average e-mini futures were up 1.08 percent at 7:15 a.m. ET on Monday. S&P 500 e-mini futures were up 1.07 percent and Nasdaq 100 e-mini futures 1.16 percent.

No major Canadian economic releases are scheduled for the day.

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