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CANADA STOCKS-TSX futures rise as oil prices gain on OPEC's production cut

Kitco News

Jan 18 (Reuters) - Futures for Canada’s main stock index rose on Friday, as oil prices gained after a report from the Organisation of the Petroleum Exporting Countries (OPEC) showed its production fell sharply last month.

OPEC on Friday published a list of oil production cuts by its members and other major producers for the six months to June, an effort to boost confidence in the move designed to avoid a supply glut in 2019.

March futures on the S&P/TSX index were up 0.48 percent at 7:00 a.m. ET.

Inflation data is expected at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX closed up 99.96 points, or 0.66 percent, at 15,211.22 on Thursday.

Dow Jones Industrial Average e-mini futures were up 0.67 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.46 percent and Nasdaq 100 e-mini futures were up 0.46 percent.

TOP STORIES

Bombardier is making progress resolving problems with double-decker passenger trains, which have drawn criticism from buyer Swiss Federal Railways (SBB), the company’s Swiss country chief has told a local newspaper.

ANALYST RESEARCH HIGHLIGHTS

Husky Energy Inc: RBC cuts price target to C$19 from C$20.

Trevali Mining Corp: RBC cuts price target to C$0.60 from C$1.

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,284.4; -0.61 percent

US crude: $52.8; +1.4 percent

Brent crude: $61.93; +1.23 percent

U.S. ECONOMIC DATA DUE ON FRIDAY

0915 Industrial production mm for Dec: Expected 0.2 pct; Prior 0.6 pct.

0915 Capacity utilization SA for Dec: Expected 78.5 pct; Prior 78.5 pct.

0915 Manufacturing output mm for Dec: Expected 0.3 pct; Prior 0 pct.

0915 Industrial production YoY for Dec: Prior 3.89 pct.

1000 U Mich Sentiment Preliminary for Jan: Expected 97; Prior 98.3.

1000 U Mich Conditions Preliminary for Jan: Expected 114.5; Prior 116.1.

1000 U Mich Expectations Preliminary for Jan: Expected 86; Prior 87.

1000 U Mich 1 year inflation preliminary for Jan: Prior 2.7 pct.

1000 U Mich 5-year inflation preliminary for Jan: Prior 2.5 pct.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1 = C$1.33) (Reporting by Lisa Pauline Mattackal in Bengaluru; Editing by James Emmanuel)

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