Dec 12 (Reuters) - Futures pointed to a higher opening for Canada’s main stock index, which hit a 19-month high last week, as oil prices surged on Monday.
Oil prices jumped to their highest since July 2015 after OPEC and some of its rival producers agreed to cut output to tackle global glut and boost prices.
December futures on the S&P TSX index were up 0.16 percent at 7:15 a.m. ET.
Canada’s main stock index barely extended a 19-month high on Friday, jumping 1.7 percent over the week, as heavyweight energy and bank stocks gained with rising oil prices and bond yields while mining losses eclipsed broad gains.
Dow Jones Industrial Average e-mini futures were up 0.1 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were flat and Nasdaq 100 e-mini futures were down 0.39 percent.
ANALYST RESEARCH HIGHLIGHTS
Bank of Montreal : KBW raises price target to C$95 from C$85
Pure Gold Mining : Canaccord Genuity starts with “speculative buy” rating
Tahoe Resources Inc : RBC cuts target price to C$19 from C$27
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,156.4; -0.36 pct
US crude : $53.75; +4.37 pct
Brent crude : $56.60; +4.16 pct
LME 3-month copper : $5,785.00; -0.69 pct
U.S. ECONOMIC DATA DUE ON MONDAY
1400 Federal budget for Nov: Prior -$44.0 bln
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$1= C$1.31 Reporting by Nivedita Balu in Bengaluru; Editing by Anil D’Silva
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