April 19 Canada's main stock index was set to
start higher on Wednesday as oil prices rose after OPEC
reaffirmed its commitment to erode a glut that has dogged
markets since 2014.
OPEC Secretary-General Mohammad Barkindo said on Wednesday
that all oil producers taking part in a supply-cut pact are
committed to bringing global inventories down to the industry's
five-year average and restoring stability to the market.
June futures on the S&P TSX index were up 0.17
percent at 7:15 a.m. ET.
Canada's benchmark stock index fell on Tuesday, mirroring
U.S. market sentiment, with energy stocks leading declines as
the price of crude oil fell.
No major economic releases are scheduled in Canada.
Dow Jones Industrial Average e-mini futures were up
0.14 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
were up 0.28 percent and Nasdaq 100 e-mini futures
were up 0.30 percent.
(Morning News Call newsletter here
; The Day Ahead newsletter here)
Chevron Corp, the second-largest U.S.-based oil
company, sold its Canadian gasoline stations and refinery in
British Columbia to Parkland Fuel Corp, a marketer of
petroleum products, for C$1.46 billion ($1.09 billion).
ANALYST RESEARCH HIGHLIGHTS
Dollarama Inc: TD Securities cuts rating to "hold"
Rogers Communications Inc: Desjardins raises
target price to C$62.50 from C$59
Russel Metals Inc: Raymond James raises target
price to C$30 from C$26
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1282.3; -0.73 percent
US crude: $52.61; +0.38 percent
Brent crude: $55.16; +0.49 percent
LME 3-month copper: $5639.5; +1.21 percent
U.S. ECONOMIC DATA DUE ON WEDNESDAY
No economic releases are scheduled.
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory
(Reporting by Nikhil Kumar in Bengaluru; Editing by Maju