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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.
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%.
The Canadian National Railway Company (CNR.TO) said on Sunday it had resumed operations in the crucial Kamloops-Vancouver corridor in the flood-affected province of British Columbia. Read more
Canada’s Trans Mountain pipeline will resume operations on Sunday, weeks after it closed during a record-breaking rainstorm in British Columbia that washed away roads and railroads, Trans Mountain Corp [RIC:RIC:TMC.UL] said in a statement on Saturday. Read more
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
FOR CANADIAN MARKET NEWS, CLICK ON THE CODES:
TSX Market Report
Report on the Canadian Dollar and CA Bonds /
Reuters Global Equity Poll for Canada,
Canadian Market Directory
($ 1 = CA $ 1.28)
Amal S report in Bangalore; Editing by Vinay Dwivedi
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