Jan 26 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Tuesday as oil prices rose on hopes that OPEC and non-OPEC producers may be edging closer to a deal to tackle one of the biggest supply gluts in decades.
March futures on the S&P TSX index were up 0.63 percent at 7:30 a.m. ET.
No major economic events are scheduled for the day.
The Toronto Stock Exchange’s S&P/TSX composite index fell on Monday as last week’s crude-induced rally fizzled out and a fall in oil prices weighed on the shares of energy and financial companies.
Dow Jones Industrial Average e-mini futures were up 0.22 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were up 0.32 percent and Nasdaq 100 e-mini futures were up 0.27 percent.
Rogers Communications Inc said on Monday it would cut around 400 media jobs starting in February, the latest Canadian media outlet to fire staff in a tough market dealing with sliding advertising and the migration of audiences online.
OMERS Ventures, one of Canada’s biggest venture capital firms, plans to raise up to C$300 million ($210 million) through the launch of a third fund in 2017 to invest in early stage technology firms, its chief executive officer said on Monday.
A worker at Centerra Gold Inc’s Kumtor mine in Kyrgyzstan was fatally injured while working the night shift on Sunday, the Canadian mining company said on Monday.
COMMODITIES AT 7:30 a.m. ET
Gold futures : $1,112.90; +0.69 pct
US crude : $30.57; +0.76 pct
Brent crude : $30.72 +0.72 pct
LME 3-month copper : $4,501.50; +1.92 pct
ANALYST RESEARCH HIGHLIGHTS
Cenovus : Goldman Sachs raises rating to “buy” from “neutral”
Detour Gold Corp : BMO raises target price to C$17 from C$16.75; rating “market perform”
Saputo Inc : RBC raises price target to C$40 from C$38; rating “outperform”
U.S. ECONOMIC DATA DUE ON TUESDAY
0855 Redbook mm: Prior -1.2 pct
0855 Redbook yy: Prior 1.4 pct
0900 Monthly home price mm for Nov: Prior 0.5 pct
0900 Monthly home price yy for Nov: Prior 6.1 pct
0900 Monthly Home Price Index for Nov: Prior 227.5
0900 CaseShiller 20 mm SA for Nov: Expected 0.8 pct; Prior 0.8 pct
0900 CaseShiller 20 mm NSA for Nov: Expected 0.1 pct; Prior 0.1 pct
0900 CaseShiller 20 yy for Nov: Expected 5.7 pct; Prior 5.5 pct
0945 Markit Composite Flash PMI for Jan: Prior 54.0
0945 Markit Services PMI Flash for Jan: Expected 54.0; Prior 54.3
1000 Consumer Confidence for Jan: Expected 96.5; Prior 96.5
1000 Rich Fed Composite Index for Jan: Prior 6
1030 Texas Service Sector Outlook for Jan: Prior 3.3
1030 Dallas Fed Services Revenue for Jan: Prior 15.2
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$1.42) (Reporting by Nikhil Kumar in Bengaluru; Editing by Anil D’Silva)
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