Feb 3 (Reuters) - Canada's main stock index looked set to
open higher on Wednesday after oil prices rebounded on hopes
that the world's largest producers could act to cut output and
boost prices.
Russian Foreign Minister Sergei Lavrov said if there is
consensus among the Organization of the Petroleum Exporting
Countries and non-OPEC members to meet, "then we will meet".
March futures on the S&P TSX index SXFc1 were up 0.51
percent at 7:15 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index fell on
Tuesday, with financial and energy stocks weighing as crude oil
prices dropped on renewed concern about oversupply.
Dow Jones Industrial Average e-mini futures 1YMc1 were up
0.32 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
Esc1 were up 0.37 percent and Nasdaq 100 e-mini futures NQc1
were up 0.21 percent.
No major economic events in Canada are scheduled for the day
TOP STORIES
U.S. home improvement retailer Lowe's Cos Inc LOW.N said
it would buy Rona Inc RON.TO in a deal valued at C$3.2 billion
($2.28 billion) to enter Canada's Quebec province, where Rona is
the market leader.
AT 7:15 a.m. ET Gold futures GCc1 : $1,129.10; +0.16 pct
US crude CLc1 : $30.58; +2.24 pct
Brent crude LCOc1 : $33.44; +2.20 pct
LME 3-month copper CMCU3 : $4,594; +1.01 pct
ANALYST RESEARCH HIGHLIGHTS
CI Financial Corp CIX.TO : National Bank Financial cuts
target price to C$31 from C$34
Innergex Renewable Energy Inc INE.TO : BMO raises rating to
"outperform" from "market perform"
Westjet Airlines Ltd WJA.TO : Cowen and Company cuts rating
to "underperform" from "outperform"
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0815 ADP national employment for Jan: Expected 195,000;
Prior 257,000
0945 Markit Services PMI final for Jan: Prior 53.7
0945 Markit Composite Final PMI for Jan: Prior 53.7
1000 ISM N-Manufacturing PMI for Jan: Expected 55.1; Prior
55.8
1000 ISM N-Manufacturing Bus Act for Jan: Expected 58.5;
Prior 59.5
1000 ISM N-Manufacturing Employment Index for Jan: Prior
56.3
1000 ISM N-Manufacturing New Orders Index for Jan: Prior
58.9
1000 ISM N-Manufacturing Price Paid Index for Jan: Prior
51.0
($1= C$1.39)