Aug 8 (Reuters) - Stock futures pointed to a slightly higher start for Canada’s main stock index on Monday as oil prices rose.
Oil prices rose more than 1 percent, boosted by fresh calls by some members of the Organization of the Petroleum Exporting Countries to freeze production levels to rein in output, which has consistently outpaced demand.
September futures on the S&P TSX index were up 0.07 percent at 7:15 a.m. ET.
Canadian building permits data for June is due at 8:30 a.m. ET
Canada’s main stock index rose to a one-year high on Friday, led by financial and energy stocks after strong U.S. jobs data raised expectations for a hike in U.S. interest rates.
Dow Jones Industrial Average e-mini futures were up 0.19 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.20 percent and Nasdaq 100 e-mini futures were up 0.26 percent.
Bank of Nova Scotia, Canada’s third-largest bank, has applied to Taiwan’s financial regulator to exit the local market as part of a strategy shift in the Asia Pacific region, four sources with direct knowledge of the matter said on Monday.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,329.70; -0.5 percent
US crude : $42.35; +1.32 percent
Brent crude : $44.80; +1.2 percent
LME 3-month copper : $4,816; +0.56 percent
ANALYST RESEARCH HIGHLIGHTS
AutoCanada Inc : CIBC raises target price to C$24 from C$22
Bombardier : National Bank Financial raises to “outperform” from “sector perform”
Slate Office REIT : NBF raises to “outperform” from “sector perform”
U.S. ECONOMIC DATA DUE ON MONDAY
1000 Employment Trends for Jul: Prior 128.1
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Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.32) (Reporting by Nandi Kaul in Bengaluru; Editing by Kirti Pandey)
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