Feb 2 (Reuters) - Futures for Canada's main stock index rose on Tuesday, supported by higher oil prices, after major crude producers showed they were reining in output roughly in line with their commitments.
Brent crude LCOc1 futures rose 2.34% and U.S. West Texas Intermediate crude CLc1 futures advanced 2.35%. O/R
Voluntary cuts of 1 million bpd by OPEC's de facto leader, Saudi Arabia, are set to be implemented from the beginning of February though March.
March futures in the S&P/TSX index SXFc1 were up 0.3% at 7:00 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 2.05% higher at 17,692.45 on Monday. .TO
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.78% at 7:00 a.m. ET. S&P 500 e-mini futures ESc1 were up 0.82% and Nasdaq 100 e-mini futures NQc1 were up 0.82%. .N
TOP STORIES TOP/CAN
Hedge funds have raised their bets against Canadian silver-mining stocks, January short-selling data from a market regulator showed, while miners' shares and silver rose sharply due to buying by retail investors. house prices will continue their upwards march this year, outpacing inflation after hitting record highs in 2020, according to a Reuters poll of property market analysts who said the risk of a COVID-19 resurgence derailing activity was low. RESEARCH HIGHLIGHTS RCH/CA
IGM Financial Inc IGM.TO : Scotiabank raises target price to C$40 from C$38
Wheaton Precious Metals Corp WPM.TO : Credit Suisse (SIX:CSGN) cuts target price to C$62 from C$64
West Fraser Timber Co Ltd WFG.TO : Scotiabank raises target price to C$101 from C$84
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2 : $1,843.9; -0.94% GOL/
US crude CLc1 : $54.81; +2.35% O/R
Brent crude LCOc1 : $57.67; +2.34% O/R
U.S. ECONOMIC DATA DUE ON TUESDAY 0945 ISM-New York Index for Jan : Prior 817.6 0945 ISM New York Business Conditions for Jan : Prior 61.3
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Reuters global stocks poll for Canada EQUITYPOLL1 EPOLL/CA
Canadian markets directory CANADA ($1= C$1.28)