March 21 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Tuesday as oil prices rose on expectations that OPEC-led output cut would be extended beyond June.
OPEC sources have indicated the group's members increasingly favor an extension but want the backing of non-OPEC oil producers, which have yet to deliver fully on existing cuts. O/R
June futures on the S&P TSX index SXFc1 were up 0.18 percent at 7:10 a.m. ET.
Retail sales, due at 8:30 am. ET, are expected to have risen 1.1 pct in Jan. ECONCA
Canada's benchmark stock index retreated on Monday as oil prices fell and heavyweight energy and financial shares lost ground, while the prospect of higher U.S. interest rates pressured defensive sectors, such as telecoms. Jones Industrial Average e-mini futures 1YMc1 were up 0.04 percent at 7:10 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.16 percent and Nasdaq 100 e-mini futures NQc1 rose 1.19 percent. .N
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TOP STORIES TOP/CAN
Dominion Diamond Corp DDC.TO and fellow Canadian diamond miner Stornoway Diamond Corp SWY.TO have held talks about a potential merger in recent months, people familiar with the matter said on Monday. RESEARCH HIGHLIGHTS RCH/CA
AutoCanada Inc ACQ.TO: CIBC cuts target price to C$20 from C$22
BCE Inc BCE.TO: CIBC raises target price to C$60 from C$59
Stella-Jones Inc SJ.TO: Desjardins cuts to hold from buy
COMMODITIES AT 7:10 a.m. ET COM/WRAP
Gold futures GCc2 : $1,232.7; -0.11 pct GOL/
US crude CLc1 : $48.52; +0.62 pct O/R
Brent crude LCOc1 : $51.99; +0.72 pct O/R
LME 3-month copper CMCU3 : $5,825.50; -0.93 pct MET/L
U.S. ECONOMIC DATA DUE ON TUESDAY
08:30 Current account for Q4: Expected -128.2 bln; Prior -113.0 bln
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