July 9 (Reuters) - Canada’s main stock index was set to open higher on Monday as oil prices made gains on global demand and U.S. efforts to impose sanctions on Iran, which would reduce output.
The United States said it wants to reduce oil exports from Iran, the world’s fifth biggest oil producer, to zero by November, in a move that will oblige other big producers such as Saudi Arabia to pump more.
September futures on the S&P/TSX index were up 0.14 percent at 7:15 a.m. ET.
The index rose 105.17 points, or 0.65 percent, to 16,371.78 on Friday.
Dow Jones Industrial Average e-mini futures were up 0.48 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.41 percent and Nasdaq 100 e-mini futures were up 0.4 percent.
TOP STORIES Miner Barrick Gold Corp and China’s Shandong Gold said they would deepen cooperation beyond their Argentinian joint venture, potentially working together on acquisitions.
Suncor Energy Inc said it expects its Syncrude oil sands project in Alberta to return to full production in early to mid-September, following an outage last month that shut total output.
ANALYST RESEARCH HIGHLIGHTS
Aritzia Inc: TD Securities raises target price to C$19.00 from C$17.50
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1265.9; rose 0.8 percent
US crude: $73.83; rose 0.04 percent
Brent crude: $77.9; rose 1.02 percent
LME 3-month copper: $6381; rose 1.58 percent
U.S. ECONOMIC DATA DUE ON MONDAY
1000 Employment Trends for June: Prior 107.7
1500 Consumer credit for May: Expected $12.50 bln; Prior$9.26 bln
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$1.31) (Reporting by Debanjan Bose in Bengaluru Editing by Saumyadeb Chakrabarty)
Our Standards: The Thomson Reuters Trust Principles.