Sept 17 (Reuters) - 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 defence 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.

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.

TOP STORIES

Canadian miner RNC Minerals recovered a 43-kg specimen stone containing an estimated 1,100 ounces of gold and a second 7-kg specimen containing 190 ounces from Beta Hunt Mine in Australia.

USD Partners LP has begun expansion work at one of Canada’s largest crude by rail loading terminals, which will boost capacity at the facility by 50 percent and be completed by year end, the head of the company’s Canada unit told Reuters.

ANALYST RESEARCH HIGHLIGHTS

Nighthawk Gold Corp: Canaccord Genuity raises rating to speculative buy from hold; raises price target to C$0.60 from C$0.55

Alaris Royalty Corp: CIBC raises price target to C$19 from C$18

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1201; fell 0.01 percent

US crude: $69.53; rose 0.78 percent

Brent crude: $78.72; rose 0.81 percent

LME 3-month copper: $5885.5; fell 1.46 percent

Reporting By Sourav Bose in Bengaluru; Editing by Arun Koyyur

 

SOURCE: REUTERS

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