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CANADA STOCKS-TSX futures rise as oil gains on stimulus hopes

March 3 (Reuters) - Canada’s main stock index futures rose on Tuesday, after oil prices gained on hopes that the world’s major central banks may offer financial stimulus to address the impacts of the spreading coronavirus outbreak.

March futures on the S&P/TSX index were up 0.44% at 7:00 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX index ended 1.78% higher at 16,553.26 on Monday.

Dow Jones Industrial Average e-mini futures were up 0.82% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.52% and Nasdaq 100 e-mini futures were up 0.84%.

TOP STORIES

GFL Environmental Inc on Monday raised about $1.4 billion in its initial public offering, pricing it below the target range in a conservative step to ride out market volatility in the wake of the coronavirus outbreak.

ANALYST RESEARCH HIGHLIGHTS

Alaris Royalty Corp: CIBC cuts rating to neutral from outperformer

Empire Company Ltd: National Bank of Canada cuts target price to C$37 from C$38

Husky Energy Inc: CIBC cuts target price to C$10.50 from C$12

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1604.5; +0.61 percent

US crude: $48.19; +3.08 percent

Brent crude: $53.22; +2.54 percent

U.S. ECONOMIC DATA DUE ON TUESDAY

0945 ISM-New York Index for Feb: Prior 866.9

0945 ISM New York Business Conditions for Feb: Prior 45.8

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 Siddharth Athreya V in Bengaluru; Editing by Shinjini Ganguli)

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