Futures set to open higher as Canada's oil prices rise

By anna smith

Futures signalled a higher opening for Canadian stocks on Monday as brent crude oil prices rose, lifted by a drop in the dollar that could encourage demand just as attacks on Nigerian oil infrastructure depletes supplies.

However, signs of recovering U.S. output capped gains.

June futures on the S&P TSX index were up 0.33 percent at 7:15 a.m. ET.

No major economic events are scheduled for the day.

Canada’s main stock index benefited on Friday as gold miners jumped with the precious metal after poor U.S. jobs data hurt the U.S. dollar offsetting losses for financial stocks and some energy companies

Dow Jones Industrial Average e-mini futures increased 0.15 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.08 percent and Nasdaq 100 e-mini futures were up 0.13 percent.

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,240.6; 0.50 pct

US crude: $49.13; 1.05 pct

Brent crude : $50.15; 1.03 pct

LME 3-month copper: $4,713.50; 0.59 pct

ANALYST RESEARCH HIGHLIGHTS

Husky Energy Inc: Raymond James raises target price to C$18 from C$16

Imperial Oil Ltd: Raymond James raises target price to C$51 from C$48

Keyera Corp: Raymond James cuts target price to C$46 from C$47

U.S. ECONOMIC DATA DUE ON MONDAY

1000 Employment Trends for May: Prior 128.3
 

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Read the June 2016 issue of Business Review USA & Canada magazine

SOURCE: [Reuters]

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