May 16 (Reuters) - Canada's main stock index was set to open
higher on Monday as oil prices jumped due to output disruptions
in Nigeria and as Goldman Sachs (NYSE:GS) said the market had ended almost
two years of oversupply and was now in deficit.
June futures on the S&P TSX index SXFc1 were up 0.29
percent at 7:30 a.m. ET.
Oil prices jumped more than 2 percent on Monday to their
highest since November 2015.
No major Canadian economic releases are scheduled for the
day.
Canada's main stock index slipped on Friday, weighed down by
financial, industrial and resource stocks as they pulled back in
line with softer prices for oil and other commodities.
Dow Jones Industrial Average e-mini futures 1YMc1 were
down 0.01 percent at 7:30 a.m. ET, while S&P 500 e-mini futures
ESc1 were up 0.05 percent and Nasdaq 100 e-mini futures NQc1
were up 0.02 percent.
TOP STORIES
Canadian oil and gas producer Penn West Petroleum Ltd
PWT.TO PWE.N said on Monday it might be in default on its
financial covenants at the end of the second quarter and raised
doubts about its ability to continue as a going concern.
David Tepper's hedge fund Appaloosa bought nearly 1 million
shares in Valeant Pharmaceuticals International Inc (NYSE:VRX) VRX.TO in
the first three months of 2016, according to regulatory filings,
but sold them during the first quarter. AT 7:30 a.m. ET COM/WRAP
Gold futures GCc1 : $1,282.50; +0.83 pct GOL/
US crude CLc1 : $47.16; +2.06 pct O/R
Brent crude LCOc1 : $48.80; +2.03 pct O/R
LME 3-month copper CMCU3 : $4,637.50; +0.22 pct MET/L
ANALYST RESEARCH HIGHLIGHTS
Onex Corp OCX.TO : CIBC keeps "sector performer" rating
Valener Inc VNR.TO : RBC raises price target to C$23 from
C$19
U.S. ECONOMIC DATA DUE ON MONDAY
0830 NY fed manufacturing Index for May: Expected 6.50;
Prior 9.56
1000 NAHB Housing Market Index for May: Expected 59; Prior
58
1600 Net L-T flows, exswaps for Mar: Prior $72.0 bln
1600 Foreign buying, T-bonds for Mar: Prior $9.9 bln
1600 Overall net capital flow for Mar: Prior $33.5 bln
1600 Net L-T flows, including swaps for Mar: Prior $60.9 bln
($1= C$1.29)