March 29 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Wednesday as oil prices extended gains.
Disruptions in Libya and views that an OPEC-led output reduction is likely to be extended helped oil prices, despite industry data showing an increase in U.S. crude inventories. O/R
June futures on the S&P TSX index SXFc1 were up 0.08 percent at 7:15 a.m. ET.
Canada's main stock index notched its highest close in three weeks on Tuesday as an oil price rally helped energy stocks and a jump in U.S. consumer confidence boosted global markets. Jones Industrial Average e-mini futures 1YMc1 were down 0.03 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.01 percent and Nasdaq 100 e-mini futures NQc1 were up 0.06 percent. .N
No major economic releases are scheduled in Canada ECONCA .
(Morning News Call newsletter http://share.thomsonreuters.com/assets/newsletters/Morning_News_Call/MNC_US.pdf ; The Day Ahead newsletter http://share.thomsonreuters.com/assets/newsletters/The_Day_Ahead/TDA_NAM.pdf)
TOP STORIES TOP/CAN
The Canadian and Ontario governments plan to team up with a group of businesses to invest about C$200 million ($150 million) to fund an artificial intelligence institute at the University of Toronto, project organizers said on Tuesday. Corp's TRP.TO chief operating officer, Alex Pourbaix, is retiring from the company after 23 years in May, a TransCanada spokesman said on Tuesday. RESEARCH HIGHLIGHTS RCH/CA
Caribbean Utilities CUPu.TO : Barclays (LON:BARC) starts coverage with "underweight" rating; $13 price target
Fortis Inc FTS.TO : Barclays reinstates with "overweight" rating; C$48 price target
Kirkland Lake Gold Ltd KL.TO : CIBC raises price target to C$11 from C$10.25
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc2 : $1252.3; -0.26 percent GOL/
US crude CLc1 : $48.6; +0.48 percent O/R
Brent crude LCOc1 : $51.6; +0.53 percent O/R
LME 3-month copper CMCU3 : $5883.5; +0.18 percent MET/L
U.S. ECONOMIC DATA DUE ON WEDNESDAY
10:00 Pending Homes Index for Feb: Prior 106.4
10:00 Pending Sales Change mm for Feb: Expected 2.4 pct; Prior -2.8 pct
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1 EPOLL/CA
Canadian markets directory CANADA
($1= C$1.34)