December 28, 2018 / 12:56 PM / 3 months ago

CANADA STOCKS-TSX futures rise on higher oil prices

Dec 28 (Reuters) - Futures for Canada’s main stock index rose on Friday, as oil prices bounced back from the previous session’s steep losses.

March futures on the S&P/TSX index were up 0.72 percent at 7:07 a.m. ET.

The Toronto Stock Exchange S&P/TSX composite index closed up 385.02 points, or 2.79 percent, at 14,165.21 on Thursday.

Oil prices rebounded, recovering slightly from heavy losses this week, but remained close to the lowest levels in over a year as rising U.S. inventories and concern over global economic growth rattled markets.

Dow Jones Industrial Average e-mini futures were up 0.53 percent at 7:16 a.m. ET, while S&P 500 e-mini futures were up 0.51 percent and Nasdaq 100 e-mini futures were up 0.4 percent.

TOP STORIES

Canadian cannabis producer Aphria Inc said that Green Growth Brands Ltd’s proposed C$2.8 billion ($2.06 billion) all-stock hostile bid undervalued the company.

ANALYST RESEARCH HIGHLIGHTS

Husky Energy Inc: Eight Capital cuts target price to C$20 from C$22

COMMODITIES AT 7:22 a.m. ET

Reuters/CRB Index Total Return: 176.5666; fell 0.03 percent

Gold futures: $1281.2; rose 0.01 percent

US crude: $45.04; rose 0.96 percent

Brent crude: $52.26; rose 0.19 percent

U.S. ECONOMIC DATA DUE ON FRIDAY

0945 Chicago PMI for Dec: Expected 62.0; Prior 66.4

1000 Pending Homes Index for Nov: Prior 102.1

1000 Pending Homes Sales mm for Nov: Expected 0.7 pct, Prior -2.6 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$1.36) (Reporting by Sourav Bose in Bengaluru; Editing by Shounak Dasgupta)

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