September 9, 2019 / 11:32 AM / a month ago

TSX futures tick up on rising crude prices

(Reuters) - Futures for Canada’s main stock index edged up on Monday, following a rise in oil prices after Saudi Arabia’s new energy minister confirmed his country’s commitment to OPEC-led crude supply cuts.

FILE PHOTO: A TMX Group sign, the company that runs the Toronto Stock Exchange (TSX), is seen in Toronto, June 23, 2014. REUTERS/Mark Blinch

Prince Abdulaziz bin Salman, who took over as energy minister from Khalid al-Falih on Sunday, said on Monday the world’s top oil exporter would keep working with other producers to achieve market balance and that an OPEC-led supply-curbing deal would survive “with the will of everybody”.

September futures on the S&P/TSX index were up 0.05% at 7:00 a.m. ET.

The Toronto Stock Exchange S&P/TSX composite index fell 39.48 points, or 0.24% to 16,535.33 on Friday.

Dow Jones Industrial Average e-mini futures were up 0.19% at 7:00 a.m. ET, S&P 500 e-mini futures gained 0.23% and Nasdaq 100 e-mini futures 0.18%.

ANALYST RESEARCH HIGHLIGHTS [RCH/CA]

SilverCrest Metals Inc: RBC raises target price to C$9.50 from C$7.50

Teck Resources Ltd: Scotiabank cuts target price to C$36 from C$39

COMMODITIES AT 7:00 a.m. ET [COM/WRAP]

Gold futures: $1511; +0.13% [GOL/]

US crude: $56.91; +0.69% [O/R]

Brent crude: $61.89; +0.57% [O/R]

U.S. ECONOMIC DATA DUE ON MONDAY

1000 (approx.) Employment Trends for Aug: Prior 111.0

1500 Consumer credit for Jul: Expected $16.00 bln; Prior $14.60 bln

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report [.TO]

Canadian dollar and bonds report [CAD/] [CA/]

Reuters global stocks poll for Canada <EPOLL/CA>

Canadian markets directory

Reporting by Lisa Mattackal in Bengaluru; Editing by Shinjini Ganguli

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