(Reuters) – Canada’s main stock index was set for a slightly high open on Tuesday tracking gains in crude oil prices, amid expectations that the worst was over for the global financial system.
March futures on the S&P/TSX index were up 0.1% at 7:26 a.m. ET.
Contracts tied to oil prices extended gains from the previous session amid supply disruption risks from Iraqi Kurdistan. [O/R]
Among stocks, Lundin Mining Corp said it would buy a majority stake in Chile’s Caserones copper mine for about $950 million to expand the Canadian miner’s exposure to the red metal crucial for the green energy transition.
Brokerage J.P.Morgan raised its price target levels for Bombardier Inc stating that the business jet maker had made considerable progress in shoring up its balance sheet, leaving it less vulnerable to the macro environment.
Crescent Point Energy Corp said it would acquire Spartan Delta Corp’s oil and liquids-rich Montney assets in Alberta for C$1.7 billion ($1.24 billion) in an all-cash deal.
In the previous session, the Toronto Stock Exchange’s S&P/TSX composite index ended 0.6% higher aided by gains in energy and financial stocks. [.TO]
Dow e-minis were up 25 points, or 0.08%, at 7:26 a.m. ET, while S&P 500 e-minis remained unchanged and Nasdaq 100 e-minis were down 6.75 points, or 0.05%. [.N]
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,957.3; +0.1% [GOL/]
US crude: $73.1; +0.3% [O/R]
Brent crude: $78.41; +0.3% [O/R]
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
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Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
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($1 = 1.3677 Canadian dollars)
(Reporting by Johann M Cherian in Bengaluru; Editing by Shailesh Kuber)
