May 12(Reuters) - Canadian stocks looked set to open higher on Monday as investors set aside worries about a possible escalation in Ukraine’s civil conflict after separatist rebels declared a resounding victory in a referendum on Sunday.
June futures on the S&P TSX index <0#SXF:> were up 0.21 percent at 0730 ET.
The index fell slightly on Friday as unexpectedly sluggish jobs data and worries about escalating tensions in Ukraine spurred declines in the energy and financial sectors.
Dow Jones Industrial Average futures were up 0.33 percent at 0730 ET while S&P 500 futures were up 0.40 percent and Nasdaq 100 futures were up 0.56 percent.
U.S. medical firm Allergan Inc rejected the unsolicited takeover offer from Valeant Pharmaceuticals International Inc saying it substantially undervalued the company.
COMMODITIES AT 0715 ET
Gold futures : $1,291.1; +0.30 pct
US crude : $100.46; +0.47 pct
Brent crude : $108.66; +0.71 pct
LME 3-month copper : $6,891.25; +2.17 pct
ANALYST RESEARCH HIGHLIGHTS
Canadian Natural Resources : National Bank Financial ups target to C$53 from C$48
Dundee Real Estate : National Bank Financial cuts target to C$34.50 from C$35
TMX Group Ltd : National Bank Financial raises price target to C$60 from C$56
U.S. ECONOMIC DATA DUE ON MONDAY
1400 Federal budget for April: Expected +$114 bln prior -$36.9 bln
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Reuters global stocks poll for Canada
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$1= $1.09 Canadian Reporting by Mononshila Deka in Bangalore; Editing by Ted Kerr
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