Feb 2 (Reuters) - Stock futures pointed to a higher start for Canada’s main stock index on Monday, with March futures on the S&P TSX index up 0.53 percent at 7.15 a.m. ET.
RBC manufacturing PMI date for January is due at 9.30 a.m. ET.
Canada’s main stock index edged higher on Friday as a jump in oil and bullion prices pushed up shares of gold miners and energy companies, overcoming a decline in financial stocks following sluggish U.S. economic data.
Dow Jones Industrial Average e-mini futures were up 0.37 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were up 0.35 percent and Nasdaq 100 e-mini futures were up 0.23 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
The first published word on a sharp dividend cut by Canadian Oil Sands Ltd on Thursday took not only investors by surprise, but the company too, and thousands of trades were reversed on Friday as a result.
A Canadian pension fund said it picked an Australian toll road to make its first large investment in unbuilt infrastructure, committing A$525 million ($409.5 million) for a quarter stake in the country’s longest road tunnel north of Sydney.
COMMODITIES AT 7.15 a.m. ET
Gold futures : $1,275.40; -0.24 pct
US crude : $49.32; +2.24 pct
Brent crude : $54.65; +3.13 pct
LME 3-month copper : $5,532.50; +0.68 pct
ANALYST RESEARCH HIGHLIGHTS
AutoCanada Inc : Canaccord Genuity cuts price target to C$66 from C$81
BCE Inc : Barclays raises price target to C$61 from C$55
Canadian Oil Sands Ltd : TD Securities raises target price to C$8.50 from C$8
U.S. ECONOMIC DATA DUE ON MONDAY
0830 Personal consumption real mm for Dec: Prior +0.7 pct
0830 Personal income mm for Dec: Expected +0.2 pct; Prior +0.4 pct
0830 Consumption, adjusted mm for Dec: Expected -0.2 pct; Prior +0.6 pct
0830 Core PCE Price Index mm for Dec: Expected +0.0 pct; Prior +0.0 pct
0830 PCE Price Index mm for Dec: Prior -0.2 pct
0945 Markit Manufacturing PMI final for Jan: Prior +53.7
1000 Construction spending mm for Dec: Expected +0.7 pct; Prior -0.3 pct
1000 ISM Manufacturing PMI for Jan: Expected +54.5; Prior +55.1
1300 Dallas Fed PCE for Dec: Prior +1.5 pct
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$1.27) ($1 = A$1.28) (Reporting by Samarendra Sahoo in Bengaluru; Editing by Kirti Pandey)
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