May 24 (Reuters) - Canada’s main stock index was set to open modestly higher on Tuesday, with June futures on the S&P TSX index up 0.12 percent at 7:40 a.m. ET.
The market was closed for a holiday on Monday.
Canada’s main stock index rose on Friday as financials and energy led broad-based gains, helped by a global rally in stocks as the negative impact of Federal Reserve rate hike speculation faded.
No major economic releases are scheduled.
Dow Jones Industrial Average e-mini futures were up 0.31 percent at 7:40 a.m. ET, while S&P 500 e-mini futures were up 0.35 percent and Nasdaq 100 e-mini futures were up 0.40 percent.
Video conferencing equipment maker Polycom Inc said on Monday it received a revised proposal from a private equity firm that could be superior to an offer from Canada’s Mitel Networks Corp.
COMMODITIES AT 7:40 a.m. ET
Gold futures : $1,141.40; -0.81 pct
US crude : $48.06; -0.04 pct
Brent crude : $48.21; -0.27 pct
LME 3-month copper : $4,608.50; +1.02 pct
ANALYST RESEARCH HIGHLIGHTS
Brick Brewing Co. Ltd : Paradigm starts coverage with “buy” rating; C$2.75 price target
IAG : NBF raises price target to C$42 from C$40; rating “sector perform”
Sun Life Financial Inc : NBF raises price target to C$47 from C$44; rating “outperform”
U.S. ECONOMIC DATA DUE ON TUESDAY
0855 Johnson Redbook Index mm: Prior 2.3 pct
0855 Johnson Redbook Index yy: Prior 0.5 pct
1000 New home sales-units for Apr: Expected 0.523 mln; Prior 0.511 mln
1000 New home sales change mm for Apr: Expected 2.0 pct; Prior -1.5 pct
1000 Richmond Fed Manufacturing Composite Index for May: Prior 14
1000 Richmond Fed, Services Index for May: Prior 15
1000 Richmond Fed Manufacturing Shipments for May: Prior 14
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$1.32) (Reporting by Nikhil Kumar in Bengaluru; Editing by Anil D’Silva)
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