June 29, 2020 / 11:36 AM / 9 days ago

CANADA STOCKS--TSX futures rise on higher oil prices

June 29 (Reuters) - Canada’s main stock index future rose on Monday, supported by a spike in oil prices against the backdrop of global concerns related to rising coronavirus cases.

Oil prices steadied on Monday, supported by improving economic data but held in check by sharp spikes in new coronavirus infections around the world that have forced some countries to impose partial lockdowns.

September futures on the S&P/TSX index were up 0.67% at 7:00 a.m. ET.

Data for Canada’s producer prices and raw materials prices are due at 8:30 a.m. ET.

On Friday, the Toronto Stock Exchange’s S&P/TSX composite index ended 1.66% lower at 15,188.98

Dow Jones Industrial Average e-mini futures were 0.41% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.23% and Nasdaq 100 e-mini futures were down 0.15%.

TOP STORY

Rio Tinto said on Monday that Mongolia would build a coal-fired plant that would supply power to its giant Oyu Tolgoi copper mine in the country, with construction set to start by this time next year.

ANALYST RESEARCH HIGHLIGHTS

Endeavour Mining Corp: CIBC raises target price to C$42 from C$40

Guardian Capital Group Ltd: Scotiabank cuts target price to C$22 from C$23

IGM Financial Inc: Scotiabank raises target price to C$34 from C$32

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,771.4; +0.05%

US crude: $38.66; +0.44%

Brent crude: $41.08; +0.16%

U.S. ECONOMIC DATA DUE ON MONDAY

1000 Pending Homes Index for May: Prior 69.0

1000 Pending sales change mm for May: Expected 19.7%; Prior -21.8%

1030 Dallas Fed Manufacturing Business Index for Jun: Prior -49.20

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$1.37) (Reporting by Shivani Kumaresan in Bengaluru; Editing by Maju Samuel)

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