Canadian Stocks May Advance With Crude Oil Prices, Takeovers
Canadian stocks may rise, led by energy producers such as Petro-Canada, as oil prices climbed.
The market may also get a boost from the expectation of more takeovers after Vincor International Inc. agreed to be bought by Constellation Brands Inc.
The Standard & Poor's/TSX Composite Index on March 31 lost 96.34, or 0.8 percent, to 12,110.61. The gauge, unchanged for the week, gained 7.4 percent in the first quarter, the best January-to-March performance since 2000.
Crude oil for May delivery rose as much as 0.9 percent to $67.23 a barrel in New York amid concern Iran would cut oil exports as a dispute with the U.S. over its nuclear-research escalated. Prices were also propped up by rising demand for gasoline in the U.S.
Petro-Canada, the country's third-biggest oil and gas company, was shown gaining 87 cents to C$56.25, according to bids on the Toronto Stock Exchange. EnCana Corp., Canada's biggest natural-gas producer, may advance 71 cents to C$55.21.
Shares of Vincor were shown jumping C$4.50 to C$36.01, according to bids. Constellation Brands Inc., the world's largest winemaker, agreed to buy Vincor, Canada's biggest, for C$1.27 billion ($1.09 billion) or C$36.50 a share.
U.S. Stock Futures
U.S. stock-index futures climbed amid speculation earnings growth and the pace of takeover activity will help push the equities market higher.
S&P 500 futures expiring in June added 6.50 to 1309.80 at 9:12 a.m. in New York. Dow Jones Industrial Average futures gained 35 to 11,230 and Nasdaq-100 Index futures rose 9.75 to 1729.75.
Bloomberg
The market may also get a boost from the expectation of more takeovers after Vincor International Inc. agreed to be bought by Constellation Brands Inc.
The Standard & Poor's/TSX Composite Index on March 31 lost 96.34, or 0.8 percent, to 12,110.61. The gauge, unchanged for the week, gained 7.4 percent in the first quarter, the best January-to-March performance since 2000.
Crude oil for May delivery rose as much as 0.9 percent to $67.23 a barrel in New York amid concern Iran would cut oil exports as a dispute with the U.S. over its nuclear-research escalated. Prices were also propped up by rising demand for gasoline in the U.S.
Petro-Canada, the country's third-biggest oil and gas company, was shown gaining 87 cents to C$56.25, according to bids on the Toronto Stock Exchange. EnCana Corp., Canada's biggest natural-gas producer, may advance 71 cents to C$55.21.
Shares of Vincor were shown jumping C$4.50 to C$36.01, according to bids. Constellation Brands Inc., the world's largest winemaker, agreed to buy Vincor, Canada's biggest, for C$1.27 billion ($1.09 billion) or C$36.50 a share.
U.S. Stock Futures
U.S. stock-index futures climbed amid speculation earnings growth and the pace of takeover activity will help push the equities market higher.
S&P 500 futures expiring in June added 6.50 to 1309.80 at 9:12 a.m. in New York. Dow Jones Industrial Average futures gained 35 to 11,230 and Nasdaq-100 Index futures rose 9.75 to 1729.75.
Bloomberg
posted by Ottawa Gas Prices | 8:11 PM
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