July 25, 2017 / 11:24 AM / 5 months ago

CANADA STOCKS-Futures edge higher as oil extends gains

July 25 (Reuters) - Stock futures edged higher for Canada’s main stock index on Tuesday as oil prices rose, a day after Saudi Arabia vowed to cut down its exports and OPEC looked to tackle Nigerian oil output.

September futures on the S&P TSX index were up 0.09 percent at 7:15 a.m. ET.

Canada’s main stock index fell on Monday, as gold miners broadly weighed and Barrick Gold Corp lost nearly 5 percent after a company it majority owns, Acacia Mining, was hit with a bill for $190 billion in unpaid taxes in Tanzania.

Dow Jones Industrial Average e-mini futures were up 0.23 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 0.05 percent.

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TOP STORIES

Netherlands-based drinks bottler Refresco has agreed to buy the bottling activities of Canada-based Cott Corp for $1.25 billion, giving a big boost to its business in the United States, the world’s largest soft drinks market.

Enbridge Inc’s move not to ration space on heavy oil pipelines out of western Canada for the first time in 16 months is likely to give producers only a short respite from difficulties in getting crude to market, industry players said.

ANALYST RESEARCH HIGHLIGHTS

Element Fleet Management Corp: RBC raises rating to “outperform” from “sector perform”

Fairfax Financial Holdings Ltd: CIBC raises rating to “neutral” from “underperform”

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,253.9; +0.0 pct

US crude: $47.07; +1.60 pct

Brent crude: $49.41; -1.67 pct

LME 3-month copper: $6,183.50; +2.6 pct

U.S. ECONOMIC DATA DUE ON TUESDAY

0900 Monthly home price mm for May: Prior 0.7 pct

0900 Monthly home price yy for May: Prior 6.8 pct

0900 Monthly Home Price Index for May: Prior 248.2

0900 CaseShiller 20 mm SA for May: Expected 0.3 pct; Prior 0.3 pct

0900 CaseShiller 20 mm NSA for May: Prior 0.9 pct

0900 CaseShiller 20 yy for May: Expected 5.8 pct; Prior 5.7 pct

1000 Consumer Confidence for July: Expected 116.5; Prior 118.9

1000 Rich Fed Composite Index for July: Prior 7

1000 Rich Fed, Services Index for July: Prior 19

1000 Rich Fed Manufacturing Shipments for July: Prior 11

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 Riniki Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty)

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