March 21, 2017 / 11:35 AM / 4 months ago

CANADA STOCKS-TSX futures higher as oil prices rise

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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.

June futures on the S&P TSX index 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.

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.

Dow Jones Industrial Average e-mini futures were up 0.04 percent at 7:10 a.m. ET, while S&P 500 e-mini futures were up 0.16 percent and Nasdaq 100 e-mini futures rose 1.19 percent.

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Analyst Research Highlights

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Gold futures: $1,232.7; -0.11 pct

US crude: $48.52; +0.62 pct

Brent crude: $51.99; +0.72 pct

LME 3-month copper: $5,825.50; -0.93 pct

u.s. Economic Data Due on Tuesday

08:30 Current account for Q4: Expected -128.2 bln; Prior -113.0 bln

For Canadian Markets News, Click on Codes:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1= C$1.33) (Reporting by Astha Rawat in Bengaluru; Editing by Anil D'Silva)

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