Oct 24 (Reuters) - Stock futures for Canada’s main stock index pointed to a higher opening on Tuesday as oil prices rose.
Crude prices found support from supply disruptions in Iraq and after Saudi Arabia said it is determined to reduce crude inventories further.
December futures on the S&P TSX index were up 0.16 percent at 7:15 a.m. ET.
Canada’s main stock index ended little changed on Monday, as a plunge in Eldorado Gold Corp and losses for energy stocks offset gains in the financial and mining sectors.
Dow Jones Industrial Average e-mini futures were up 0.25 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.09 percent and Nasdaq 100 e-mini futures were up 0.11 percent.
China’s state-owned Sinochem Group appeared to deny a media report that it was bidding for a stake in Chilean lithium producer SQM being sold by Canada’s PotashCorp .
ANALYST RESEARCH HIGHLIGHTS
Eldorado Gold Corp: Canaccord Genuity cuts price target to C$2.25 from C$3.25
First Quantum Minerals Ltd: Barclays raises price target to C$15.10 from C$12.65
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,279.6; -0.09 pct
US crude: $52.31; +0.79 percent
Brent crude: $57.81; +0.77 percent
LME 3-month copper: $7091; +1.24 percent
U.S. ECONOMIC DATA DUE ON TUESDAY
0945 Markit Manufacturing PMI Flash for Oct: Expected 53.5; Prior 53.1
0945 Markit Services PMI Flash for Oct: Expected 55.6; Prior 55.3
1000 Rich Fed Composite Index for Oct: Prior 19
1000 Rich Fed, Services Index for Oct: Prior 22
1000 Rich Fed Manufacturing Shipments for Oct: Prior 22
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) (Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by Savio D’Souza)
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