April 8, 2020 / 11:24 AM / 2 months ago

CANADA STOCKS-TSX futures rise as oil prices hold

Canada’s main stock index futures were higher on Wednesday, as oil prices steadied on hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts.

June futures on the S&P/TSX index were up 0.22% at 7:00 a.m. ET.

Canadian housing starts and building permits data is due at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX closed up 0.16% at 13,614.14 on Tuesday.

Dow Jones Industrial Average e-mini futures were up 0.47% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.44% and Nasdaq 100 e-mini futures were up 0.6%.

TOP STORIES

More than two dozen employees of Denver-based shale producer Ovintiv Inc sent form letters this week to Texas energy regulators opposing any state-mandated oil production cuts in the face of plunging energy prices.

ANALYST RESEARCH HIGHLIGHTS

Laurentian Bank of Canada: Canaccord Genuity cuts target price to C$23 from C$32

Marathon Gold Corp: National Bank of Canada raises price target to C$2.50 from C$2.25

Uni-Select Inc: BMO cuts target price to C$5 from C$12

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,675; +0.14%

US crude: $24.4; +3.26%

Brent crude: $31.96; +0.28%

U.S. ECONOMIC DATA DUE ON WEDNESDAY

1200 TR IPSOS PCSI for Apr: Prior 60.10

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$1.40 Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shounak Dasgupta

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