January 3, 2017 / 12:29 PM / in a year

CANADA STOCKS-Futures rise as oil jumps over 2 pct

Jan 3 (Reuters) - Canadian stock futures pointed to a higher opening for the main stock index on the first trading of the year, as oil prices jumped over 2 percent.

Oil prices gained on Tuesday as markets hoped the deal between the OPEC and non-OPEC producer countries, which took effect on Sunday, will reduce global supply glut concerns.

March futures on the S&P TSX index were up 0.69 percent at 7:15 a.m. ET.

Markit Manufacturing PMI data is due at 9:30 a.m. ET.

Canada’s main stock index fell broadly on the last trading day of the year on Friday, but logged an overall robust annual gain.

Dow Jones Industrial Average e-mini futures were up 0.77 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.8 percent and Nasdaq 100 e-mini futures were up 0.85 percent.

(Morning News Call newsletter here ; The Day Ahead newsletter here)

ANALYST RESEARCH HIGHLIGHTS

Innergex Renewable Energy Inc : Desjardins raises target price to C$15.50 from C$15.25

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,149.00; -0.23 pct

US crude : $54.88; +2.16 pct

Brent crude : $58.00; +2.09 pct

LME 3-month copper : $5,573.00; +0.68 pct

U.S. ECONOMIC DATA DUE ON TUESDAY

0855 Redbook mm: Prior 0.8 pct

0855 Redbook yy: Prior 2.1 pct

0945 Markit Manufacturing PMI final for Dec: Prior 54.2

1000 Construction spending mm for Nov: Expected 0.5 pct; Prior 0.5 pct

1000 ISM Manufacturing PMI for Dec: Expected 53.5; Prior 53.2

1000 ISM Manufacturing prices Paid for Dec: Expected 55.5; Prior 54.5

1000 ISM Manufacturing Employment Index for Dec: Expected 52.6; Prior 52.3

1000 ISM Manufacturing New Orders Index for Dec: Prior 53.0

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$1.34) (Reporting by Nivedita Balu in Bengaluru; Editing by Shounak Dasgupta)

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