April 12 (Reuters) - Canadian stock futures were set to open higher on Tuesday as oil climbed to $43 a barrel, supported by hopes that top producers will soon agree on steps to rein in oversupply.
June futures on the S&P TSX index were up 0.41 percent at 7:15 a.m. ET.
Many members of OPEC as well as outside producers such as Russia are meeting in Doha, Qatar, on Sunday to discuss freezing output.
Canada’s main stock index rose on Monday following a boost in gold mining stocks, while railway company Canadian Pacific Railway Ltd advanced after it scrapped a takeover bid.
Dow Jones Industrial Average e-mini futures were up 0.29 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.39 percent and Nasdaq 100 e-mini futures were up 0.42 percent.
No major Canadian economic data is scheduled to be released on Tuesday.
Canadian solar company SkyPower is looking for partners for its India projects and will start building them in the fall of this year, its chief executive told Reuters on Tuesday, adding it was rapidly expanding its team and activities in seven states.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,257.00; +0.02 pct
US crude : $40.62; +0.64 pct
Brent crude : $43.26; +1.05 pct
LME 3-month copper : $4,697.50; +0.72 pct
ANALYST RESEARCH HIGHLIGHTS
Agrium Inc : Goldman Sachs cuts target price to C$107 from C$114
Rogers Communications Inc : RBC raises price target to C$55 from C$53
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 Import prices mm for Mar: Expected 1.0 pct; Prior -0.3 pct
0830 Export prices mm for Mar: Expected -0.2 pct; Prior -0.4 pct
0855 Redbook mm: Prior 3.1 pct
0855 Redbook yy: Prior 0.6 pct
1400 Federal Budget for Mar: Expected -104.0 bln; Prior $-193.0 bln
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$1.29) (Reporting by Riniki Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty)
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