Nov 30 (Reuters) - Canada’s main stock index looked set to open higher on Monday as oil prices recovered ahead of a meeting of the Organization of the Petroleum Exporting Countries (OPEC) on Friday.
Although the producer group is not expected to change its output policy, oil traders strengthened their positions to prepare for any unexpected outcomes.
December futures on the S&P TSX index were up 0.34 percent at 7:10 a.m. ET.
Current account data for the third quarter is due at 8:30 a.m. ET
Canada’s main stock index closed lower on Friday, hurt by weakness in resource shares after a plunge in China equities weighed on commodity prices.
Dow Jones Industrial Average e-mini futures were up 0.08 percent at 7:10 a.m. ET, while S&P 500 e-mini futures were up 0.05 percent and Nasdaq 100 e-mini futures were up 0.20 percent.
BlackBerry Ltd will delay shutting down its operations in Pakistan until Dec. 30 as negotiations continue over government demands for access to users’ private data, the company and the telecoms authority said on Monday.
After shocking markets with an interest rate cut at the start of the year, the Bank of Canada is expected to end 2015 on a more sedate note, holding rates steady through next year and waiting for better U.S. growth to provide a boost, according to a Reuters poll.
COMMODITIES AT 7:10 a.m. ET
Gold futures : $1,055.60; -0.05 pct
US crude : $42.09; +0.94 pct
Brent crude : $45.39; +1.16 pct
LME 3-month copper : $5,594.50; +0.42 pct
ANALYST RESEARCH HIGHLIGHTS
Canadian Western Bank : National Bank Financial raises target to C$26 from C$25
Empire Co : National Bank Financial cuts target price to C$31 from C$32.67
Merus Labs : CIBC starts with sector outperformer rating; price target of C$2.90
U.S. ECONOMIC DATA DUE ON MONDAY
0945 Chicago PMI for Nov: Expected +54; Prior +56.2
1000 Pending Homes Index for Oct: Prior +106.8
1000 Pending sales change mm for Oct: Expected +1.5 pct; Prior -2.3 pct
1030 Dallas Fed Manufacturing Business Index for Nov: Prior -12.7
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$1.34) (Reporting by Ayesha Sruti Ahmed in Bengaluru; Editing by Kirti Pandey)
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