Stock futures for Canada’s main index rose on Monday as energy shares gained on the back of rising oil prices, but the rise was capped by lingering U.S.-China trade war fears.
Oil rose as investors focused on the impact of U.S. sanctions on Iran despite assurances by Washington that Saudi Arabia, Russia and the United States could together raise output fast enough to offset falling supplies.
Brent crude oil was up 50 cents a barrel at $78.59 by 1055 GMT. U.S. light crude was up 50 cents at $69.49.
China will not be content to only play defense in an escalating trade war with the United States, a widely read Chinese tabloid warned, as U.S. President Donald Trump was expected to announce new tariffs on $200 billion in Chinese goods as early as Monday.
September futures on the S&P/TSX index were up 0.08 percent at 7:15 a.m. ET.
Data on foreign investment in Canadian securities and Canadian investment in foreign securities are due at 08:30 a.m. ET
The Toronto Stock Exchange’s S&P/TSX closed 0.07 percent higher, at 16,013.49 on Friday.
Dow Jones Industrial Average e-mini futures were down 0.07 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.11 percent and Nasdaq 100 e-mini futures were down 0.16 percent.–Reuters