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CANADA STOCKS-TSX futures gain as oil prices rise

Published 2017-04-24, 07:56 a/m
Updated 2017-04-24, 08:00 a/m
© Reuters.  CANADA STOCKS-TSX futures gain as oil prices rise

© Reuters. CANADA STOCKS-TSX futures gain as oil prices rise

April 24 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Monday as oil prices rose driven by expectations that OPEC will extend output cuts till the end of 2017.

June futures on the S&P TSX index SXFc1 were up 0.9 percent at 7:15 a.m. ET.

Canadian wholesale trade is due at 8:30 a.m. ET ECONCA .

Canada's main stock index ended barely lower on Friday as bank stocks pulled back with lower bond yields after weak inflation data and energy stocks shrugged off an oil slide to notch gains. OPEC and non-OPEC technical committee recommended on Friday that producers extend a global deal to cut oil supplies for another six months from June, a source familiar with the matter said. National Railway, Canada's largest railroad company, is expected to report a rise in quarterly revenue as it moves higher volumes of Canadian grains and U.S. soybeans, refined petroleum products and petroleum coke. The company is scheduled to report quarterly results after the closing bell on Monday.

Dow Jones Industrial Average e-mini futures 1YMc1 were up 1.01 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were up 1.15 percent and Nasdaq 100 e-mini futures NQc1 were up 1.06 percent. .N

(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

Canadian rig contractor Precision Drilling Corp PD.TO , PDS.N reported a smaller-than-expected rise in revenue as the rates customers paid to hire rigs fell despite increased demand. Cenovus Energy Inc CVE.TO has said it may sell parts of the Deep Basin natural gas assets it recently bought from Houston-based ConocoPhillips (NYSE:COP) COP.N , Royal Bank of Canada RY.TO analysts wrote in a research note on Sunday. engineering and construction company SNC-Lavalin Group Inc SNC.TO won a contract from Saudi Aramco for initial engineering and design work to expand the gas-oil separation plant of the Berri oilfield, industry sources said. RESEARCH HIGHLIGHTS RCH/CA

IGM Financial Inc IGM.TO : RBC raises target price to C$47 from C$42

Mullen Group Ltd MTL.TO : Raymond James cuts target price to C$16.25 from C$18.50

Vermilion Energy Inc VET.TO : Barclays (LON:BARC) cuts target price to C$64 from C$66

COMMODITIES AT 7:15 a.m. ET COM/WRAP

Gold futures GCc1 : $1271.3; -1.25 percent GOL/

US crude CLc1 : $50.05; +0.87 percent O/R

Brent crude LCOc1 : $52.39; +0.83 percent O/R

LME 3-month copper CMCU3 : $5654; +0.55 percent MET/L

U.S. ECONOMIC DATA DUE ON MONDAY

0830 National Activity Index for Mar: Prior 0.34

1030 Dallas Fed Manufacturing Business Index for Apr: Prior 16.90

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)

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