Aug 15 - Canada’s main stock index was set to open higher on Monday, boosted by higher oil prices.
Oil hit a near one-month high as speculation intensified about potential producer action to support prices in an oversupplied market.
September futures on the S&P TSX index were up 0.18 percent at 7:15 a.m. ET.
Canada’s main stock index slipped on Friday, weighed by broad losses among financial, consumer, industrial and materials stocks, which offset gains for energy companies as oil prices rose.
Dow Jones Industrial Average e-mini futures were up 0.19 percent at 7:15 a.m. ET. S&P 500 e-mini futures were up 0.16 percent and Nasdaq 100 e-mini futures were up 0.18 percent.
Canadian telecom companies are rushing to secure cheap money to fund acquisitions and big infrastructure projects as their reliance on customer appetite for internet services grows.
ANALYST RESEARCH HIGHLIGHTS
Altus Group Ltd : BMO raises target price to C$27 from C$24; rating “outperform”
Crescent Point Energy Corp : TD Securities cuts to “buy” from “action list buy”
Sun Life Financial Inc : BMO cuts target price to C$45 from C$46
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1336.5; +0.05 percent
U.S. crude : $44.75; +0.58 percent
Brent crude : $47.2; +0.49 percent
LME 3-month copper : $4762; +0.02 percent
U.S. ECONOMIC DATA DUE ON MONDAY
0830 NY Fed Manufacturing Index for Aug: Expected 2.00; Prior 0.55
1000 NAHB Housing Market Index for Aug: Expected 60; Prior 59
1600 Net L-T flows, exswaps for June: Prior $41.1 bln
1600 Foreign buying, T-bonds for June: Prior -$18.3 bln
1600 Overall net capital flow for June: Prior -$11.0 bln
1600 Net L-T flows, including swaps for June: Prior $25.8 bln
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$1.29) (Reporting by Sai Sharanya Khosla in Bengaluru; Editing by Savio D’Souza)