Feb 29 (Reuters) - Canada’s main stock index looked set to open slightly higher on Monday as oil prices gained on rising hopes the market has bottomed out.
March futures on the S&P TSX index were up 0.16 percent at 7:30 a.m. ET.
Current account and producer prices data are due at 8:30 a.m. ET.
Canada’s main stock index rose on Friday, helped by gains in some major banks and energy companies and by a jump in shares of auto parts maker Magna International Inc, which reported strong European and North American demand.
Dow Jones Industrial Average e-mini futures were down 0.23 percent at 7:30 a.m. ET. S&P 500 e-mini futures were down 0.19 percent and Nasdaq 100 e-mini futures were down 0.34 percent.
(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
TOP STORIES
Valeant Pharmaceuticals International said on Sunday that Chief Executive Officer Michael Pearson would return from medical leave effective immediately, and it postponed the release of its fourth-quarter results planned for Monday.
A proposed Canadian government bailout of Bombardier Inc’s new CSeries jet manufacturing program would reduce the company’s stake in the money-losing aircraft, taking it off the plane maker’s books and boosting results in the short-term, two sources familiar with the matter said.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,232.00; +1.00 pct
US crude : $32.86; +0.27 pct
Brent crude : $35.48; +1.08 pct
LME 3-month copper : $4,692.00; -0.30 pct
ANALYST RESEARCH HIGHLIGHTS
Aecon Group Inc : CIBC raises target price to C$17 from C$16
Semafo Inc : RBC raises target price to C$5 from C$4.25; rating “sector perform”
Lundin Mining Corp : Berenberg starts with “hold” rating; target price C$4
U.S. ECONOMIC DATA DUE ON MONDAY
0945 Chicago PMI for Feb: Expected 53.0; Prior 55.6
1000 Pending Homes Index for Jan: Prior 106.8
1000 Pending sales change mm for Jan: Expected 0.5 pct; Prior 0.1 pct
1030 Dallas Fed Manufacturing Business Index for Feb: Prior -34.60
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$1.36) (Reporting by Nikhil Kumar in Bengaluru; Editing by Anil D’Silva)
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