Nov 21 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Tuesday as oil prices rose with traders looking forward to next week’s OPEC meeting when major exporters are expected to extend production cuts.
December futures on the S&P TSX index were up 0.3 percent at 7:15 a.m. ET.
Wholesale trade data for September is due at 8:30 a.m. ET.
Canada’s benchmark stock index edged up to a one-week high on Monday as financial and consumer discretionary shares gained ground, while energy and mining stocks were pressured by lower commodity prices.
Dow Jones Industrial Average e-mini futures were up 0.32 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.28 percent and Nasdaq 100 e-mini futures were up 0.35 percent.
Bombardier Inc said on Monday it priced $1 billion worth of seven-year bonds at par with a final yield of 7.5 percent per year, underscoring strong demand for the deal partly slated to retire debt maturing in 2019.
Drug company Concordia overcharged Britain’s health service millions of pounds for an essential thyroid drug by abusing its position as the only supplier, the country’s Competition and Markets Authority said on Tuesday.
Canada Corp has started initial excavation work at the site of an oil spill on its Keystone pipeline in South Dakota but has not yet pinpointed where the leak came from, a state official said on Monday.
ANALYST RESEARCH HIGHLIGHTS
Bombardier: JP Morgan raises rating to “overweight” from “neutral”
Alimentation Couche-Tard: National Bank of Canada raises target price to C$75
TransCanada Corp: CIBC raises price target to C$75 from C$70
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,277.90; +0.19 pct
US crude: $56.56; rose 0.25 percent
Brent crude: $62.39; rose 0.27 percent
LME 3-month copper: $6864; rose 0.53 percent
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 National Activity Index for Oct: Prior 0.17
1000 Existing home sales for Oct: Expected 5.42 mln; Prior 5.39 mln
1000 Existing home sales percentage change for Oct: Expected 0.7 pct; Prior 0.7 pct
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$1= C$1.28 Reporting By Debanjan Bose in Bengaluru; Editing by Savio D’Souza
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