Canada Stocks: Futures up as oil gains on OPEC stance on output curbs

Burcon NutraScience

29/01/2020 12:35

January 29 (Reuters) - Futures in Canada's main stock index
rose on Wednesday, as oil prices advanced on talks that OPEC
could extend output curbs to counter a potential drop in demand
due to China's coronavirus outbreak.
    OPEC sources said the oil cartel wants to extend production
cuts until at least June from March and may deepen the
reductions, should demand in China drop significantly.
Separtely, data showed a decline in U.S. crude oil inventories. 
 urn:newsml:reuters.com:*:nL8N29X4RY
    March futures on the S&P/TSX index  SXFc1  were up 0.23% at
7:00 a.m. ET.   
    The Toronto Stock Exchange's TSX index rose 0.33% to
17,500.88 on Tuesday.  urn:newsml:reuters.com:*:nL8N29X73U
    Dow Jones Industrial Average e-mini futures  1YMc1  were up
0.41% at 7:00 a.m. ET, while S&P 500 e-mini futures  ESc1  were
up 0.40% and Nasdaq 100 e-mini futures  NQc1  were up 0.55%.
 .N 
    
     
    TOP STORIES  TOP/CAN 
    Canadian National Railway Co  CNR.TO  said on Tuesday it
sees crude shipments as a growth driver in the year for the
country's largest railway operator, which reported a
better-than-expected fourth-quarter profit.  urn:newsml:reuters.com:*:nL4N29X36P
    Restaurant Brands International Inc's  QSR.TO  Tim Hortons
said on Tuesday it has removed Beyond Meat Inc's  BYND.O 
products from its coffee and donut shops in the Canadian
provinces of Ontario and British Columbia.  urn:newsml:reuters.com:*:nL4N29Y0NS
    Air Canada  AC.TO  said on Tuesday it was cancelling select
flights to China to better match capacity with expected demand
as the spread of the new coronavirus rattles travellers.
 urn:newsml:reuters.com:*:nL1N29X1SH
    Plant-based proteins maker Burcon NutraScience  BU.TO  said
on Tuesday it had secured C$10 million ($7.6 million) through a
bought deal, just days after food giant Nestle SA  NESN.S 
teamed up with the Canadian company.  urn:newsml:reuters.com:*:nL4N29X3OO
    
    
    ANALYST RESEARCH HIGHLIGHTS  RCH/CA 
    Altagas Ltd  ALA.TO : National Bank of Canada raises rating
to outperform from sector perform
    Gibson Energy  GEI.TO : National Bank of Canada cuts rating
to sector perform from outperform
    Superior Plus  SPB.TO : National Bank of Canada cuts rating
to sector perform from outperform
    
    
    COMMODITIES AT 7:00 a.m. ET 
    Gold futures  GCc2 : $1570.7; +0.06%  GOL/ 
    US crude  CLc1 : $53.86; +0.71%  O/R 
    Brent crude  LCOc1 : $59.99; +0.81%  O/R 
       
    
    U.S. ECONOMIC DATA DUE ON WEDNESDAY
    0830 Advance goods trade balance for Dec: Prior -$62.99 bln
    0830 Wholesale inventories advance for Dec: Prior -0.1%
    0830 Retail inventories ex-auto advance for Dec: Prior -0.2%
    1000 Pending Homes Index for Dec: Prior 108.5
    1000 Pending sales change mm for Dec: Expected 0.5%; Prior
1.2%
    1400 Fed funds target rate for 29 Jan: Expected 1.5-1.75%;
Prior 1.5-1.75%
    1400 Fed int on excess reserves for 29 Jan: Prior 1.55%


    FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
    TSX market report  .TO 
    Canadian dollar and bonds report  CAD/   CA/ 
    Reuters global stocks poll for Canada  EQUITYPOLL1 
 EPOLL/CA 
    Canadian markets directory  CANADA 
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 (Reporting by Nachiket Tekawade in Bengaluru; Editing by Arun
Koyyur)
 ((Nachiket.tekawade@thomsonreuters.com))