Jan 18 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Monday after oil prices retreated from multi-year lows.
March futures on the S&P TSX index were up 0.31 percent at 7:15 a.m. EST (1215 GMT).
No major economic events are scheduled for the day. .
Canada’s main stock index fell more than 2 percent on Friday as a further slide in crude oil prices weighed heavily on energy shares, while jitters about domestic and global economic growth hit banks and industrial and consumer names.
Dow Jones Industrial Average e-mini futures were up 0.31 percent at 7:15 a.m. EST, while S&P 500 e-mini futures were up 0.35 percent and Nasdaq 100 e-mini futures were up 0.37 percent.
Oil and gas producer Suncor Energy Inc said it had reached an agreement to buy Canadian Oil Sands Ltd after raising its all-stock offer, valuing the deal at about C$4.24 billion ($2.93 billion) excluding debt.
Iran has issued an order to increase crude oil production by 500,000 barrels a day, the deputy oil minister was quoted as saying on Monday, implementing its policy to boost production as soon as sanctions were lifted.
COMMODITIES AT 7:15 a.m. EST
Gold futures : $1,089.70; -0.09 pct
US crude : $29.57; +0.58 pct
Brent crude : $29.26; +1.07 pct
LME 3-month copper : $4,378.50; +1.10 pct
ANALYST RESEARCH HIGHLIGHTS
Melcor Developments Ltd : RBC cuts target price to C$16 from C$18
Westjet Airlines Ltd : National Bank Financial cuts target price to C$24 from C$26; rating “outperform”
U.S. ECONOMIC DATA DUE ON MONDAY
No major data is scheduled for release
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$1.45) (Reporting by Nikhil Kumar in Bengaluru; Editing by Paul Simao)
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