Dec 21 (Reuters) - Stock futures pointed to a higher start for Canada’s main stock index on Monday, the first day of a holiday-shortened week, mirroring the trend in most global equity markets.
March futures on the S&P TSX index were up 1.02 percent at 7:30 a.m. ET.
No major economic events are scheduled for the day.
Canada’s main stock index inched higher on Friday as the energy sector gained despite slipping oil prices, offsetting the impact of weakness in financial stocks as investors also scooped up shares that have taken a beating recently.
Dow Jones Industrial Average e-mini futures were up 0.75 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were up 0.87 percent and Nasdaq 100 e-mini futures were up 0.89 percent.
The Canadian dollar and the price of oil move “like a pair of train tracks” and trying to stop exchange rates from shifting could hinder the economy’s ability to absorb shocks, Bank of Canada Governor Stephen Poloz said on Friday.
COMMODITIES AT 7:30 a.m. ET
Gold futures : $1,070.40; +0.39 pct
US crude : $34.35; -1.09 pct
Brent crude : $36.36; -1.41 pct
LME 3-month copper : $4,727; +0.90 pct
ANALYST RESEARCH HIGHLIGHTS
Canadian Pacific Railway Ltd : Barclays cuts price target to C$190 from C$210
CGI Group Inc : Jefferies raises price target to C$55 from C$54; rating “hold”
Klondex Mines Ltd : Paradigm starts coverage with “buy” rating
U.S. ECONOMIC DATA DUE ON MONDAY
0830 National Activity Index for Nov: Prior -0.04
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$1.40) (Reporting by Nikhil Kumar in Bengaluru; Editing by Kirti Pandey)
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