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TSX May Open Higher with Oil Prices

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Canada's benchmark index is likely to open higher on Monday, as oil rose on prospects of producer action to help support prices.

Stock futures for the September quarter on the S&P TSX index were up 0.01% recently.

Both Brent and the WTI were in the green after Russia reportedly confirmed consultations with Saudi Arabia and other producers about achieving market stability. Brent was last up 0.6% at US$47.27/barrel, while the WTI edged up 0.7% to US$44.81/barrel.

The TSX shed 48 points at closing on Friday, weighed down mostly by healthcare and material stocks.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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