RTRS: CANADA STOCKS-Futures higher, tracking gains in oil
Jan 28 Canada's main stock index futures were trading modestly higher on Thursday as oil prices jumped to three-week highs on hopes that major producers would cut output, a day after the U.S. Federal Reserve kept interest rates unchanged.
March futures on the S&P TSX index were up 0.18 percent at 7:15 a.m. ET.
No major economic events are scheduled for the day.
The Toronto Stock Exchange's S&P/TSX composite index rallied on Wednesday as strength in crude oil prices supported energy and banking stocks, although paring gains after the U.S. Federal Reserve interest rate decision.
Dow Jones Industrial Average e-mini futures were down 0.08 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.07 percent and Nasdaq 100 e-mini futures were up 0.4 percent.
(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
TOP STORIES
Potash Corp of Saskatchewan reported a lower-than-expected quarterly profit and slashed its quarterly dividend, hurt by weakening fertilizer prices.
Shares of Canadian train and plane maker Bombardier closed below C$1 on Wednesday for the first time since 1991, putting the company at risk of being pushed out of major Canadian indices.
Enbridge Inc, Canada's largest pipeline company, said it would buy Murphy Oil Corp's Tupper Main and Tupper West gas plants in northeastern British Columbia for C$538 million ($382 million).
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,121.30; +0.49 pct
US crude : $32.29; -0.03 pct
Brent crude : $33.27; +0.63 pct
LME 3-month copper : $4,532.00; -1.26 pct
ANALYST RESEARCH HIGHLIGHTS
Canadian Natural Resources Ltd : Barclays cuts target price to C$30 from C$37
CGI Group Inc : BMO raises price target to C$63 from C$59; rating "outperform"
Rogers Communications : Canaccord Genuity cuts price target by C$1 to C$50; rating "hold"
