Feb 11, 2020 (Baystreet.ca via COMTEX) —
Futures for Canada’s main stock index edged up on Tuesday, supported by a surge in oil prices, as the number of new coronavirus cases slowed in China, easing concerns about a lasting hit to oil demand.
The TSX Composite Index shot higher 85.08 points to conclude Monday to 17,740.57
The Canadian dollar picked up 0.14 cents early Tuesday at 75.23 cents U.S.
March futures eked up 0.02% early Tuesday.
Hudson’s Bay Co on Monday named a president to lead its off-price business, known as Saks Off 5th, the latest example of a department store chain trying to bolster its outlet stores.
Police in Canada arrested 33 indigenous rights protesters on Monday, ending the closure of Vancouver ports in the British Columbia province by demonstrators opposed to construction of the Coastal GasLink natural gas pipeline, but movement of commodities and passenger trains was still disrupted by the ongoing rallies.
CIBC raised the price target on CI Financial to $25.00 from $21.00
Canaccord Genuity cut the rating on Cineplex to hold from buy
RBC cut the price target on Just Energy Group to $2.00 from $3.00
The TSX Venture Exchange slid 3.37 points to finish Monday at 570.79.
U.S. stock index futures pointed to a higher open on Tuesday as Wall Street shrugged off concerns over the economic impact of the coronavirus outbreak.
Futures for the Dow Jones Industrials advanced 98 points, or 0.3%, early Tuesday to 29,015.
Futures for the S&P 500 gained 10.5 points, or 0.3%, at 3,363.50.
Futures for the NASDAQ Composite took on 43.5 points, on 0.5%, to 9,571.
China’s National Health Commission on Monday night said the death toll had risen to 1,016 people with 42,638 confirmed cases. However, data from Johns Hopkins University showed the