February 5, 2020 / 12:35 PM / 13 days ago

CANADA STOCKS-TSX futures gain after rise in oil prices

Feb 5 (Reuters) - Futures for Canada's main stock index rose on Wednesday, as reports of drug breakthroughs in treating the coronavirus lifted oil prices.

China's Changjiang Daily, the official newspaper of the city of Wuhan where the virus outbreak began, reported bit.ly/2H8JsSF on Tuesday that a team of researchers led by Zhejiang University professor Li Lanjuan have found that drugs Abidol and Darunavir can inhibit the virus in vitro cell experiments.

March futures on the S&P/TSX index were up 0.57% at 7:00 a.m. ET.

Data on trade balance for December is due at 08:30 a.m. ET

The Toronto Stock Exchange's TSX closed up 0.77% at 17,512.73 on Tuesday.

Dow Jones Industrial Average e-mini futures were up 0.68% at 7:05 a.m. ET, while S&P 500 e-mini futures were up 0.64% and Nasdaq 100 e-mini futures were up 0.75%.

TOP STORIES

West Africa-focused gold miner Endeavour Mining is not looking for other potential acquisitions after its failed offer for Centamin, CEO Sebastien de Montessus said.

Britain's competition regulator said it plans to investigate the planned merger of gambling companies Flutter Entertainment and The Stars Group.

ANALYST RESEARCH HIGHLIGHTS

CRH Medical Corp: RBC raises price target to C$6.50 from C$5.50

Hudbay Minerals Inc: Scotiabank raises rating to "sector outperform" from "sector perform"

COMMODITIES AT 7:05 a.m. ET

Gold futures: $1556.4; rose 0.24%

U.S. crude: $50.73; rose 2.26%

Brent crude: $55.25; rose 2.39%

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0815 (approx.) ADP national employment for Jan: Expected 156,000; Prior 202,000

0830 International trade for Dec: Expected -$48.2 bln; Prior -$43.1 bln

0830 Goods trade balance (R) for Dec: Prior -$68.33 bln

0945 Markit Composite PMI final for Jan: Prior 53.1

0945 Markit Services PMI final for Jan: Prior 53.2

1000 ISM N-Manufacturing PMI for Jan: Expected 55.0; Prior 55.0

1000 ISM N-Manufacturing Business Activity for Jan: Expected 56.5; Prior 57.2

1000 ISM N-Manufacturing Employment Index for Jan: Prior 55.2

1000 ISM N-Manufacturing New Orders Index for Jan: Prior 54.9

1000 ISM N-Manufacturing Price Paid Index for Jan: Prior 58.5

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 Sourav Bose in Bengaluru; Editing by Maju Samuel)

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