May 2, 2016 / 11:37 AM / a year ago

CANADA STOCKS-Futures gain as gold rises; data awaited

May 2 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Monday as gold prices rose and investors awaited the release of the monthly manufacturing report.

The RBC Canadian Manufacturing Purchasing Managers' index (PMI) is due at 9:30 a.m. ET.

Gold rose to a fresh 15-month high on Monday, closing in on the $1,300 resistance level as fresh weakness in the dollar lent support.

June futures on the S&P TSX index were up 0.26 percent at 7:15 a.m. ET.

Canada's main stock index rose to a six-month high on Friday as mining stocks surged on higher gold and base metal prices.

Dow Jones Industrial Average e-mini futures were up 0.16 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.18 percent and Nasdaq 100 e-mini futures were up 0.11 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Warren Buffett and Charlie Munger made clear that they are no fans of embattled drugmaker Valeant Pharmaceuticals International Inc .

Canadian National Railway Co, Canada's biggest railway, struggled to keep some heavily used track in adequate repair even after a string of derailments last year showed the danger of moving oil on poorly maintained track, documents obtained by Reuters show.

The Canadian government is eager to consider joining the pension fund Caisse de depot et placement du Quebec in investing in a new public transport light rail network in Montreal, the third-largest of its kind in the world, Prime Minister Justin Trudeau said on Saturday.

COMMODITIES AT 7:15 a.m. ET

Gold futures <GCc1: $1,302.50; +1.03 pct

US crude : $45.77; -0.33 pct

Brent crude : $47.06; -0.65 pct

LME 3-month copper : $5,050.15; +2.19 pct

ANALYST RESEARCH HIGHLIGHTS

Air Canada : CIBC raises target price to C$14 from C$12

Bank of Montreal : Canaccord Genuity raises target price to C$85 from C$82

Constellation Software Inc : BMO cuts target to C$530 from C$580; maintains "market perform"

U.S. ECONOMIC DATA DUE ON MONDAY

0945 Markit Manufacturing PMI Final for Apr: Expected 50.8

1000 Construction spending mm for Mar: Expected 0.4 pct; Prior -0.5 pct

1000 ISM Manufacturing PMI for Apr: Expected 51.4; Prior 51.8

1000 ISM Manufacturing Prices Paid for Apr: Expected 52.0; Prior 51.5

1000 ISM Manufacturing Employment Index for Apr: Expected 49.0; Prior 48.1

1000 ISM Manufacturing New Orders Index for Apr: Prior 58.3

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$1.25) (Reporting by Nikhil Kumar in Bengaluru; Editing by Saumyadeb Chakrabarty)

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