Feb 10 (Reuters) - Stock futures pointed to a higher start
for Canada's main stock index on Wednesday as oil prices
recovered due to the prospect of OPEC and other major producers
cooperating to tackle a supply glut.
Iran's oil minister said Tehran was ready to negotiate with
Saudi Arabia and the Kremlin's oil tsar Igor Sechin proposed
that producing countries reduce output by 1 million barrels per
day - without saying whether non-OPEC member Russia would cut
production.
March futures on the S&P TSX index SXFc1 were up 0.98
percent at 7:15 a.m. ET.
No major economic releases are scheduled for the day
Canada's main stock index fell to a two-week low on Tuesday,
weighed down by bank and energy company shares as crude oil
prices tumbled and investors globally worried about negative
interest rates.
Dow Jones Industrial Average e-mini futures 1YMc1 were up
0.83 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
Esc1 were up 1.08 percent and Nasdaq 100 e-mini futures NQc1
were up 1.46 percent.
TOP STORIES
Canadian Pacific Railway Ltd CP.TO said on Tuesday it
planned to seek support from Norfolk Southern (N:NSC) Corp's NSC.N
shareholders to push the U.S. railroad's board to engage in
takeover talks.
AT 7:15 a.m. ET gold futures GCc1 : $1,182.90; -1.32 pct
US crude CLc1 : $28.41; +1.72 pct
Brent crude LCOc1 : $30.78; +1.52 pct
LME 3-month copper CMCU3 : $4,478.00; -0.69 pct
ANALYST RESEARCH HIGHLIGHTS
Canaccord Genuity Group CF.TO : CIBC cuts rating to "sector
performer" from "sector outperformer"
Teck Resources TCKb.TO : Barclays (L:BARC) raises price target to
C$5 from C$4; rating "underweight"
Lake Shore Gold Corp LSG.TO : CIBC cuts rating to "sector
performer" from "sector outperformer"
U.S. ECONOMIC DATA DUE ON WEDNESDAY
1100 TR IPSOS PCSI for Feb: Prior 54.30
1400 Federal budget deficit/surplus for Jan: Expected $45.0
bln; Prior -$14.0 bln
($1= C$1.39)