October 2, 2019 / 11:39 AM / 20 days ago

CANADA STOCKS-TSX futures slip on global growth fears

Oct 2 (Reuters) - Futures for Canada's main equity index fell on Wednesday after a weak U.S. manufacturing report added to global growth worries.

A survey from the Institute for Supply Management on Tuesday showed manufacturing activity in the United States tumbled to a more than 10-year low in September as trade tensions weighed on exports.

December futures on the S&P/TSX index were down 0.48% at 7:00 a.m. ET.

The Toronto Stock Exchange's TSX closed 1.27 percent lower to 16,447.66 on Tuesday.

Dow Jones Industrial Average e-mini futures were down 0.61% at 7:05 a.m. ET, while S&P 500 e-mini futures were down 0.6% and Nasdaq 100 e-mini futures were down 0.7%.

TOP STORIES

Cenovus Energy Inc lowered its spending forecast for the year and said it will raise its quarterly dividend, as the company focuses on giving more money back to shareholders.

Gambling group Flutter Entertainment is merging with Nasdaq- and Toronto-listed Stars Group Inc in an all-share deal that will create one of the world's largest online betting and gaming operators, the companies said.

ANALYST RESEARCH HIGHLIGHTS

Canadian National Railway: Scotiabank cuts rating to "sector perform" from "sector outperform"

Air Canada: National Bank of Canada raises target price to C$57 from C$55

Freehold Royalties: National Bank of Canada cuts rating to "sector perform" from "outperform"

COMMODITIES AT 7:05 a.m. ET

Gold futures: $1487; rose 0.12 percent

US crude: $53.72; rose 0.19 percent

Brent crude: $58.75; fell 0.24 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0815 (approx.) ADP national employment for Sep: Expected 140,000; Prior 195,000

0945 ISM-New York Index for Sep: Prior 879.0

0945 ISM New York Business Conditions for Sep: Prior 50.3

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$1.32) (Reporting by Sourav Bose in Bengaluru; Editing by Maju Samuel)

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