Sept 28 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Wednesday as oil prices inched up on reports of a surprise draw in U.S. crude reserves.
Members of the Organization of the Petroleum Exporting Countries (OPEC) will hold informal talks at 10:00 a.m. ET in Algiers, but the chances of the group reaching a deal on curbing output to prop up prices appear to be slim. futures on the S&P TSX index SXFc1 were up 0.20 percent at 7:15 a.m. ET.
Energy and mining stocks dragged Canada's main stock index lower on Tuesday, cancelling out a modest relief rally elsewhere from a perceived win for Democrat Hillary Clinton in a U.S. presidential debate. Jones Industrial Average e-mini futures 1YMc1 were up 0.06 percent at 7:15 a.m. ET on Wednesday. S&P 500 e-mini futures ESc1 were down 0.01 percent and Nasdaq 100 e-mini futures NQc1 were up 0.03 percent. .N
(Morning News Call newsletter http://link.reuters.com/nex49s ; The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES TOP/CAN
Malaysia's Petronas said it would review a proposed C$11 billion ($8.3 billion) liquefied natural gas plant in western Canada that was approved by Ottawa following a three-year wait. Ltd BB.TO BBRY.O posted a 31.8 percent fall in second-quarter revenue and said it would end all internal hardware development, including its well known smartphones. Communications Inc RCIb.TO remains committed to its dividend growth strategy and the failure of its Shomi video streaming joint venture has not diminished its enthusiasm to invest in new technologies, its deputy chairman said on Tuesday. RESEARCH HIGHLIGHTS RCH/CA
Element Financial Corp EFN.TO : Barclays (LON:BARC) resumes with "overweight"; target price C$23
Fortis Inc FTS.TO : CIBC raises target price to C$47 from C$44
Surge Energy Inc SGY.TO : CIBC raises to "sector performer" from "sector underperformer"
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc2 : $1,325.20; -0.06 pct GOL/
US crude CLc1 : $45.41; +1.66 pct O/R
Brent crude LCOc1 : $46.88; +1.94 pct O/R
LME 3-month copper CMCU3 : $4,818; +0.65 pct MET/L
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Durable goods for August: Expected -1.4 pct; Prior 4.4 pct
0830 Durables ex-transport for August: Expected -0.4 pct; Prior 1.3 pct
0830 Durables ex-defense mm for August: Expected -1.1 pct; Prior 3.7 pct
0830 Nondefense cap ex-air for August: Expected -0.2 pct; Prior 1.5 pct
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