Dec 5 (Reuters) - Canada stock futures were higher on Monday as oil prices continued to gain in the wake of OPEC’s decision last week to cut production.
Brent crude oil prices rose above $55 a barrel on Monday, trading at a fresh 16-month high and coming on the heels of what was the commodity’s best week in at least five years last week.
December futures on the S&P TSX index were up 0.26 percent at 7:15 a.m. ET.
Canada’s main stock index eked out a small gain on Friday as miners rose with climbing gold prices, while energy stocks slipped after the OPEC deal earlier in the week.
Dow Jones Industrial Average e-mini futures were up 0.45 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.43 percent and Nasdaq 100 e-mini futures were up 0.54 percent. (Morning News Call newsletter link.reuters.com/nex49s ; The Day Ahead newsletter link.reuters.com/mex49s)
ANALYST RESEARCH HIGHLIGHTS
Blackpearl Resources Inc : Canaccord Genuity raises rating to “buy” from “speculative buy”
Canadian Imperial Bank of Commerce : KBW raises target price to C$104 from C$97
National Bank of Canada : Barclays raises target price to C$52 from C$48
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,167.7; -0.75 pct
US crude : $51.88; +0.45 pct
Brent crude : $54.78; +0.55 pct
LME 3-month copper : $5,856.00; +1.67 pct
U.S. ECONOMIC DATA DUE ON MONDAY
0945 Markit Services PMI Final for Nov: Prior 54.7
0945 Markit Composite Final PMI for Nov: Prior 54.9
1000 Employment Trends for Nov: Prior 129.0
1000 ISM N-Manufacturing PMI for Nov: Expected 55.3; Prior 54.8
1000 ISM N-Manufacturing Business Activity for Nov: Prior 57.7
1000 ISM N-Manufacturing Employment Index for Nov: Prior 53.1
1000 ISM N-Manufacturing New Orders Index for Nov: Prior 57.7
1000 ISM N-Manufacturing Price Paid Index for Nov: Prior 56.6
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$1= C$1.33 Reporting by Nivedita Balu; Editing by Savio D’Souza
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