Canada’s main stock index futures rose on Tuesday, as oil prices jumped on hopes for a global production cut and a slowdown in infections in Europe and the United States aided sentiment.
June futures on the S&P/TSX index were up 2.06% at 7:00 a.m. ET.
Canada’s Ivey PMI data for March is due at 10:00 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX closed up 5.06% at 13,592.70 on Monday.
Dow Jones Industrial Average e-mini futures were up 3.92% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 3.42% and Nasdaq 100 e-mini futures were up 3.23%.
British cinema operator Cineworld said it has shut all its 787 cinemas across 10 countries due to the coronavirus pandemic and that it was in talks with its lenders for ongoing liquidity requirements.
The company said it was monitoring the progress of its $1.65 billion takeover of Canadian rival Cineplex, a deal that had led Cineworld to take on additional financing of about $2.2 billion, triggering concerns about its debt pile.
ANALYST RESEARCH HIGHLIGHTS
Air Canada: CIBC cuts target price to C$29 from C$37
Canadian Natural Resources Ltd: JPMorgan cuts target price to C$26 from C$27
Rogers Communications Inc: RBC cuts target price to C$64 from C$66
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,695.5; +0.68%
US crude: $26.91; +3.18%
Brent crude: $33.81; +2.3%
U.S. ECONOMIC DATA DUE ON TUESDAY
1000 JOLTS job openings for Feb: Expected 6.600 mln; Prior 6.963 mln
1500 Consumer credit for Feb: Expected 14.00 bln; Prior 12.02 bln
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$1= C$1.40 Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Amy Caren Daniel
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