July 25 (Reuters) - Stock futures edged higher for Canada’s main stock index on Tuesday as oil prices rose, a day after Saudi Arabia vowed to cut down its exports and OPEC looked to tackle Nigerian oil output.
September futures on the S&P TSX index were up 0.09 percent at 7:15 a.m. ET.
Canada’s main stock index fell on Monday, as gold miners broadly weighed and Barrick Gold Corp lost nearly 5 percent after a company it majority owns, Acacia Mining, was hit with a bill for $190 billion in unpaid taxes in Tanzania.
Dow Jones Industrial Average e-mini futures were up 0.23 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.18 percent and Nasdaq 100 e-mini futures were up 0.05 percent.
Netherlands-based drinks bottler Refresco has agreed to buy the bottling activities of Canada-based Cott Corp for $1.25 billion, giving a big boost to its business in the United States, the world’s largest soft drinks market.
Enbridge Inc’s move not to ration space on heavy oil pipelines out of western Canada for the first time in 16 months is likely to give producers only a short respite from difficulties in getting crude to market, industry players said.
ANALYST RESEARCH HIGHLIGHTS
Element Fleet Management Corp: RBC raises rating to “outperform” from “sector perform”
Fairfax Financial Holdings Ltd: CIBC raises rating to “neutral” from “underperform”
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,253.9; +0.0 pct
US crude: $47.07; +1.60 pct
Brent crude: $49.41; -1.67 pct
LME 3-month copper: $6,183.50; +2.6 pct
U.S. ECONOMIC DATA DUE ON TUESDAY
0900 Monthly home price mm for May: Prior 0.7 pct
0900 Monthly home price yy for May: Prior 6.8 pct
0900 Monthly Home Price Index for May: Prior 248.2
0900 CaseShiller 20 mm SA for May: Expected 0.3 pct; Prior 0.3 pct
0900 CaseShiller 20 mm NSA for May: Prior 0.9 pct
0900 CaseShiller 20 yy for May: Expected 5.8 pct; Prior 5.7 pct
1000 Consumer Confidence for July: Expected 116.5; Prior 118.9
1000 Rich Fed Composite Index for July: Prior 7
1000 Rich Fed, Services Index for July: Prior 19
1000 Rich Fed Manufacturing Shipments for July: Prior 11
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$1.25) (Reporting by Riniki Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty)
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