February 13, 2017 / 12:36 PM / in 10 months

CANADA STOCKS-Futures trade higher on global cues

Feb 13 (Reuters) - Canada’s main stock index was set to follow global markets higher on Monday, helped by optimism over U.S. President Donald Trump’s tax reform plans and a rebound in certain commodity prices.

Copper hit its highest since May 2015, extending the previous session’s near-5 percent surge after shipments were disrupted from the world’s two biggest copper mines.

March futures on the S&P TSX index were up 0.13 percent at 7:15 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index powered to a record high on Friday propelled by higher oil prices and expectations of corporate-friendly tax cuts in the United States, while an unexpected surge in domestic job growth also suggested a brighter economic outlook.

No major Canadian economic releases are scheduled.

Dow Jones Industrial Average e-mini futures were up 0.25 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.16 percent and Nasdaq 100 e-mini futures were up 0.11 percent.

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TOP STORIES

Restaurant Brands International Inc , the owner of Burger King and Tim Hortons, reported a quarterly profit that more than doubled from a year ago, when it recorded a one-time charge related to the merger of the two brands.

Heavy rains have cut access in and out of the Ravensthorpe nickel-producing operations in Western Australia, owner First Quantum Minerals said.

ANALYST RESEARCH HIGHLIGHTS

Bank of Montreal: Barclays raises target price to C$86 from C$82

Cara Operations Ltd: Canaccord Genuity cuts target price to C$29 from C$34

TransAlta Corp: National Bank Financial cuts rating to “sector perform” from “outperform”

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1231; -0.28 percent

US crude: $53.69; -0.32 percent

Brent crude: $56.46; -0.42 percent

LME 3-month copper: $6126.5; +0.6 percent

U.S. ECONOMIC DATA DUE ON MONDAY

No major economic releases are scheduled.

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$1.31) (Reporting by Nikhil Kumar in Bengaluru; Editing by Shounak Dasgupta)

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