January 29, 2015 / 12:27 PM / 2 years ago

CANADA STOCKS-TSX set to open higher as oil holds above $48

3 Min Read

Jan 29 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Thursday as Brent oil futures held above $48 a barrel, fueled by investors' buying on hopes for a price rebound.

March futures on the S&P TSX index were up 0.20 percent at 7.15 a.m. ET.

No major economic data is due on Thursday.

Canada's main stock index dropped over 1.5 percent on Wednesday after the Federal Reserve's comments about the U.S. economic recovery signaled to investors that the central bank was likely to raise interest rates as planned later this year.

Dow Jones Industrial Average e-mini futures were up 0.51 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were up 0.48 percent and Nasdaq 100 e-mini futures were up 0.27 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

Top Stories

Potash Corp of Saskatchewan , the world's biggest fertilizer company by market capitalization, reported a better-than-expected quarterly profit, helped by strong potash sales and lower costs.

Canada's No. 2 integrated oil producer and refiner Imperial Oil Ltd said on Wednesday it is considering selling 475 company-owned Esso gas stations.

COMMODITIES AT 7.15 a.m. ET

Gold futures : $1,269; -1.31 pct

US crude : $44.51; -0.13 pct

Brent crude : $48.93; +0.91 pct

LME 3-month copper : $5,370; -2.08 pct

Analyst Research Highlights

CGI Group Inc : Jefferies cuts to "hold" from "buy"

Canacol Energy Ltd : CIBC raises to "sector outperformer" from "sector performer"

u.s. Economic Data Due on Thursday

0830 Initial jobless claims: Expected 300,000 Prior 307,000

0830 Continued jobless claims: Expected 2.420 mln Prior 2.443 mln

1000 Pending Homes Index for Dec: Prior 104.8

1000 Pending sales change mm for Dec: Expected 0.5 pct Prior 0.8 pct

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$1.26 Reporting by Abhinav Kaul in Bengaluru

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