February 11, 2020 / 12:32 PM / in 4 months

CANADA STOCKS-TSX futures edge higher as oil prices rise

Feb 11 (Reuters) - Futures for Canada’s main stock index edged up on Tuesday, supported by a surge in oil prices, as the number of new coronavirus cases slowed in China, easing concerns about a lasting hit to oil demand.

The death toll in mainland China climbed past 1,000 on Tuesday, but the number of new confirmed cases fell. Zhong Nanshan, an epidemiologist who helped fight the SARS epidemic in 2003, said the situation in some provinces was already improving.

March futures on the S&P/TSX index were up 0.02% at 7:00 a.m. ET.

The Toronto Stock Exchange’s TSX fell 0.48% to 17,740.57 on Monday.

Dow Jones Industrial Average e-mini futures were up 0.21% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.19% and Nasdaq 100 e-mini futures were up 0.34%.

TOP STORIES

Saks Fifth Avenue owner Hudson’s Bay Co on Monday named a president to lead its off-price business, known as Saks Off 5th, the latest example of a department store chain trying to bolster its outlet stores.

Police in Canada arrested 33 indigenous rights protesters on Monday, ending the closure of Vancouver ports in the British Columbia province by demonstrators opposed to construction of the Coastal GasLink natural gas pipeline, but movement of commodities and passenger trains was still disrupted by the ongoing rallies.

Canada’s complaint about a Ukrainian passenger plane that was mistakenly shot down by Iran’s Revolutionary Guards in January has no legal basis, Iranian Foreign Minister Mohammad Javad Zarif said on Tuesday, according to Iranian media reports.

ANALYST RESEARCH HIGHLIGHTS

CI Financial Corp: CIBC raises price target to C$25 from C$21

Cineplex Inc: Canaccord Genuity cuts rating to “hold” from “buy”

Just Energy Group Inc: RBC cuts price target to C$2 from C$3

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1569; -0.48 %

US crude: $50.44; +1.76 %

Brent crude: $54.35; +2.03 %

U.S. ECONOMIC DATA DUE ON TUESDAY

1000 JOLTS job openings for Dec: Expected 7.000 mln; Prior 6.800 mln

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$1.33)

Reporting by Swathi Nair in Bengaluru; Editing by Maju Samuel

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