Feb 12 (Reuters) - Stock futures pointed to a higher start
for Canada's main index on Friday as oil prices rose after
comments from the United Arab Emirates' energy minister raised
hopes of a coordinated production cut to tackle supply glut.
UAE Energy Minister Suhail bin Mohammed al-Mazrouei said the
Organization of the Petroleum Exporting Countries (OPEC) was
willing to talk with other exporters about cutting output. He
said cheap oil was already forcing some output reductions, which
would help rebalance the market.
March futures on the S&P TSX index SXFc1 were up 0.76
percent at 7:15 a.m. ET.
No major economic releases are scheduled for the day
ECONCA .
The Toronto Stock Exchange's S&P/TSX composite index fell on
Thursday for a fifth straight session, hitting a three-week low
as disappointing corporate earnings added to broad investor
unease about the global economy.
Dow Jones Industrial Average e-mini futures 1YMc1 were up
0.9 percent at 7:15 a.m. ET, while S&P 500 e-mini futures Esc1
were up 1.04 percent and Nasdaq 100 e-mini futures NQc1 were
up 1.02 percent. .N
(Morning News Call newsletter http://link.reuters.com/nex49s;
The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES TOP/CAN
Oil producer Cenovus Energy Inc CVE.TO said on Friday it
would sell up to $5 billion of stock, debt and other securities
in one or more tranches, a day after it cuts its dividend, to
shore up cash amid a slump in oil prices.
TMX Group Ltd X.TO , which owns and operates the Toronto
Stock Exchange, reported a lower-than-expected fourth-quarter
profit as sustained low commodity prices hurt a large portion of
its resource-based issuers.
Corporate Canada is on sale for foreign buyers after the
Canadian dollar plunged, potentially triggering takeovers that
hollow out investor choice in an already concentrated stock
market, portfolio managers warned. AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1,237.70; -0.82 pct GOL/
US crude CLc1 : $27.34; +4.24 pct O/R
Brent crude LCOc1 : $32.35; +4.29 pct O/R
LME 3-month copper CMCU3 : $4,487.00; +0.94 pct MET/L
ANALYST RESEARCH HIGHLIGHTS RCH/CA
CAE Inc CAE.TO : BMO raises rating to "outperform"
Cenovus Energy Inc CVE.TO : National Bank Financial raises
rating to "outperform" from "sector perform"
Telus Corp T.TO : Canaccord Genuity cuts rating to "hold"
from "buy"
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Import prices mm for Jan: Expected -1.4 pct; Prior -1.2
pct
0830 Export prices mm for Jan: Expected -0.9 pct; Prior -1.1
pct
0830 Retail sales mm for Jan: Expected 0.1 pct; Prior -0.1
pct
0830 Retail sales ex-autos mm for Jan: Expected 0.0 pct;
Prior -0.1 pct
0830 Retail ex gas/autos for Jan: Prior 0.0 pct
0830 Retail control for Jan: Expected 0.3 pct; Prior -0.3
pct
0955 U Mich Sentiment Preliminary for Feb: Expected 92.0;
Prior 92.0
0955 U Mich Conditions Preliminary for Feb: Expected 105.0;
Prior 106.4
0955 U Mich Expectations Preliminary for Feb: Expected 82.0;
Prior 82.7
0955 U Mich 1-year inflation preliminary for Feb: Prior 2.5
pct
0955 U Mich 5-year inflation preliminary for Feb: Prior 2.7
pct
1000 Business inventories mm for Dec: Expected 0.1 pct;
Prior -0.2 pct
1030 ECRI Weekly Index: Prior 129.6
1030 ECRI weekly annualized: Prior -2.3 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$1.39)