TSX futures rise as Omicron fears easing pushes oil prices up

December 6 (Reuters) – Futures for the main Canadian stock index rose on Monday, following the rise in crude prices as concerns over the Omicron coronavirus variant eased, although gains were limited by the weakness of ingots.

The December S & P / TSX Index futures were up 0.4% at 7 a.m. ET.

Oil rose more than $ 1 a barrel to exceed $ 71 as hopes that the Omicron coronavirus variant could cause mostly mild symptoms boosted riskier assets.

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Meanwhile, gold fell slightly, under pressure from a stronger dollar and rising expectations that the US Federal Reserve could cut back on asset purchases at a faster pace.

The Toronto Stock Exchange’s S & P / TSX Composite Index (.GSPTSE) ended 0.6% lower at 20,633.27 on Friday, posting its largest weekly decline since January.

Dow e-minis were up 198 points, or 0.57% at 7:00 a.m. ET, while S&P 500 e-minis were up 10.25 points, or 0.23% and e-minis Nasdaq 100 were down 55.75 points, or 0.35%.

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HIGHLIGHTS OF ANALYST RESEARCH

Bank of Montreal (BMO.TO): RBC raises target price from C $ 146 to C $ 154

First Quantum Minerals Ltd (FM.TO): CIBC reduces target price from C $ 38.50 to C $ 37

Teck Resources Ltd (TECKb.TO): CIBC increases target price from C $ 40 to C $ 42

PRODUCTS AT 7:00 a.m.ET

Gold futures: $ 1780.3; -0.15%

American gross: $ 68.18; + 2.9%

Brent crude: $ 71.81; + 2.8%

US ECONOMIC DATA REPORTED ON MONDAY

1000 Employment Trends for November: Before 112.23

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($ 1 = CA $ 1.28)

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Amal S report in Bangalore; Editing by Vinay Dwivedi

Our standards: Thomson Reuters Trust Principles.


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Felix J. Dixon