Sept 13 Stock futures pointed to a lower opening
for Canada's main stock index on Tuesday as oil prices fell
further on fears that the problem of oversupply may persist for
much longer than anticipated.
The International Energy Agency said global supply would
outpace demand well into the next year, a stark contrast to its
assessment from a month ago that the market would show no
surplus for the remainder of this year.
September futures on the S&P TSX index were down
0.37 percent at 7:15 a.m. ET.
Canada's main stock index rose on Monday, boosted by a surge
in shares of Open Text Corp after the software company
acquired a rival's assets, and by reduced bets on a U.S. Federal
Reserve interest rate hike happening soon.
Dow Jones Industrial Average e-mini futures were
down 0.52 percent at 7:15 a.m. ET. S&P 500 e-mini futures
were down 0.57 percent and Nasdaq 100 e-mini futures were
down 0.56 percent.
(Morning News Call newsletter link.reuters.com/nex49s ;
The Day Ahead newsletter link.reuters.com/mex49s)
United Auto Workers President Dennis Williams said on Monday
the U.S. union will support Canada's unionized auto workers
during contract talks with General Motors Co but declined
to say whether the UAW would refuse work at GM plants in the
event of a Canadian strike.
ANALYST RESEARCH HIGHLIGHTS
5N Plus Inc : National Bank Financial raises to
"outperform" from "sector perform"
Sandvine Corp : Canaccord Genuity cuts target price
to C$3.75 from C$4.25; "buy"
Luna Gold : National Bank Financial resumes with
"sector perform"; target C$0.35
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1321; was unchanged 0 percent
US crude : $45.21; -2.27 percent
Brent crude : $47.38; -1.86 percent
LME 3-month copper : $4673; +0.51 percent
U.S. ECONOMIC DATA DUE ON TUESDAY
0855 Redbook mm: Prior -0.1 pct
0855 Redbook yy: Prior 0.8 pct
1400 Federal budget for August: Expected -108.0 bln; Prior
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$1.31)
(Reporting by Sai Sharanya Khosla in Bengaluru; Editing by