Oct 10 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Tuesday as oil prices rose, supported by Saudi Arabian export cuts in November.
Saudi Arabia has cut November allocations by 560,000 barrels per day, in line with its commitment to an OPEC-led supply reduction pact. In the United States, some production remains offline following Hurricane Nate, lending additional support.
December futures on the S&P TSX index were up 0.28 percent at 7:15 a.m. ET.
Canada’s main stock index retreated on Friday after touching a seven-month high in the previous session, as energy stocks, hurt by 3 percent drop in oil prices, drove the weaker finish.
Dow Jones Industrial Average e-mini futures were up 0.15 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.15 percent and Nasdaq 100 e-mini futures were up 0.20 percent.
Brookfield Asset Management’s Public Securities Group (PSG) has agreed to buy Center Coast Capital Holdings (CCC), an energy infrastructure-focused investment firm, for an undisclosed amount, according to a statement on Tuesday.
The U.S. Chamber of Commerce urged the Trump administration on Tuesday to moderate its stance in the renegotiation of the North American Free Trade Agreement, describing some of Washington’s demands as “poison pill proposals” that could doom the talks.
Bombardier Inc’s largest business jet is making its debut on Sunday in Las Vegas, giving a glimpse of the ultra long-range plane the Canadian company is counting on for growth at a time of sluggish industry sales and as it fights a trade battle over a separate jet.
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,297.7; +0.65 pct
US crude: $50.39; +1.27 pct
Brent crude: $56.38; +1.06 pct
LME 3-month copper: $6,690.50; +0.38 pct
ANALYST RESEARCH HIGHLIGHTS
Macdonald Dettwiler And Associates Ltd: TD securities raises target price to C$87 from C$84
Aritzia Inc: CIBC cuts price target to C$20 from C$22
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$1= C$1.32 Reporting by Pradip Kakoti in Bengaluru; Editing by Saumyadeb Chakrabarty
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