Feb 29 (Reuters) - Canada’s main stock index looked set to open slightly higher on Monday as oil prices gained on rising hopes the market has bottomed out.
March futures on the S&P TSX index were up 0.16 percent at 7:30 a.m. ET.
Current account and producer prices data are due at 8:30 a.m. ET.
Canada’s main stock index rose on Friday, helped by gains in some major banks and energy companies and by a jump in shares of auto parts maker Magna International Inc, which reported strong European and North American demand.
Dow Jones Industrial Average e-mini futures were down 0.23 percent at 7:30 a.m. ET. S&P 500 e-mini futures were down 0.19 percent and Nasdaq 100 e-mini futures were down 0.34 percent.
Valeant Pharmaceuticals International said on Sunday that Chief Executive Officer Michael Pearson would return from medical leave effective immediately, and it postponed the release of its fourth-quarter results planned for Monday.
A proposed Canadian government bailout of Bombardier Inc’s new CSeries jet manufacturing program would reduce the company’s stake in the money-losing aircraft, taking it off the plane maker’s books and boosting results in the short-term, two sources familiar with the matter said.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,232.00; +1.00 pct
US crude : $32.86; +0.27 pct
Brent crude : $35.48; +1.08 pct
LME 3-month copper : $4,692.00; -0.30 pct
ANALYST RESEARCH HIGHLIGHTS
Aecon Group Inc : CIBC raises target price to C$17 from C$16
Semafo Inc : RBC raises target price to C$5 from C$4.25; rating “sector perform”
Lundin Mining Corp : Berenberg starts with “hold” rating; target price C$4
U.S. ECONOMIC DATA DUE ON MONDAY
0945 Chicago PMI for Feb: Expected 53.0; Prior 55.6
1000 Pending Homes Index for Jan: Prior 106.8
1000 Pending sales change mm for Jan: Expected 0.5 pct; Prior 0.1 pct
1030 Dallas Fed Manufacturing Business Index for Feb: Prior -34.60
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$1.36) (Reporting by Nikhil Kumar in Bengaluru; Editing by Anil D’Silva)
Our Standards: The Thomson Reuters Trust Principles.