Feb 17 (Reuters) - Canada's main stock index looked set to
open higher on Wednesday after oil prices rose even as Iran
signalled a tough line to efforts led by Russia and Saudi Arabia
to broker a deal to freeze production levels and ease a global
glut.
March futures on the S&P TSX index SXFc1 were up 0.75
percent at 7:30 a.m. ET.
Data on foreign accounts is due at 8:30 a.m. ET
The Toronto Stock Exchange's S&P/TSX composite index rose on
Tuesday to a one-week high as financials gained for a second
straight session, while dashed hopes of an oil supply cut
restrained gains for energy stocks.
Dow Jones Industrial Average e-mini futures 1YMc1 were up
0.61 percent at 7:30 a.m. ET, while S&P 500 e-mini futures
Esc1 were up 0.69 percent and Nasdaq 100 e-mini futures NQc1
were up/down 0.81 percent.
TOP STORIES
Air Canada AC.TO said its costs would fall this year if
the Canadian dollar remained unchanged from 2015 levels, and
announced plans to buy up to 75 CS300 aircraft from Bombardier
Inc BBDb.TO as part of a plan to renew its fleet.
Canadian aircraft and train maker Bombardier Inc BBDb.TO
said it would reduce its workforce by about 7,000 over the next
two years, while ramping up hiring to support production of its
CSeries commercial jets.
Valeant Pharmaceuticals (N:VRX) VRX.TO got a small shot in the arm
late in 2015 when a number of big-name investors made new bets
or added to their existing positions at a time when the
embattled drug company's stock price was cheaper than it had
been in months.
AT 7:30 a.m. ET Gold futures GCc1 : $1,205.70; -0.18 pct
US crude CLc1 : $29.61; +1.96 pct
Brent crude LCOc1 : $33.07; +2.77 pct
LME 3-month copper CMCU3 : $4,571.50; +0.32 pct
ANALYST RESEARCH HIGHLIGHTS
Bank of Montreal BMO.TO : Barclays (L:BARC) cuts target price to
C$60 from C$71
Canadian Imperial Bank of Commerce CM.TO : Barclays cuts
target price to C$74 from C$93
Royal Bank of Canada RY.TO : Barclays cuts target price to
C$58 from C$71
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Building permits for Jan: Expected 1.200 mln; Prior
1.204 mln
0830 Build permits: change mm for Jan: Prior -6.1 pct
0830 Housing starts number mm for Jan: Expected 1.170 mln;
Prior 1.149 mln
0830 House starts mm: change for Jan: Prior -2.5 pct
0830 PPI final demand yy for Jan: Expected -0.6 pct; Prior
-1.0 pct
0830 PPI final demand mm for Jan: Expected -0.2 pct; Prior
-0.2 pct
0830 PPI ex food/energy yy for Jan: Expected 0.4 pct; Prior
0.3 pct
0830 PPI ex food/energy mm for Jan: Expected 0.1 pct; Prior
0.2 pct
0830 PPI ex food/energy/transport yy for Jan: Prior 0.3 pct
0830 PPI ex food/energy/transport mm for Jan: Prior 0.2 pct
0855 Redbook mm: Prior -2.6 pct
0855 Redbook yy: Prior 0.6 pct
0915 Industrial output mm for Jan: Expected 0.4 pct; Prior
-0.4 pct
0915 Capacity utilization mm for Jan: Expected 76.7 pct;
Prior 76.5 pct
0915 Manufacturing output mm for Jan: Expected 0.3 pct;
Prior -0.1 pct
($1= C$1.38)