June 21, 2019 / 11:45 AM / a month ago

CANADA STOCKS-TSX futures drop on U.S.-Iran tensions

June 21 (Reuters) - Futures pointed to a lower opening for Canada's main stock index on Friday, tracking declines in global equities as rising tensions between the United States and Iran kept investors on edge.

Iranian officials told Reuters that Tehran had received a message from U.S. President Donald Trump warning that a U.S. attack on Iran was imminent but saying he was against war and wanted talks on a range of issues.

September futures on the S&P/TSX index were down 0.1% at 7:00 a.m. ET.

April retail sales data is due to be released at 8:30 a.m. ET.

The Toronto Stock Exchange's S&P/TSX rose 63.04 points, or 0.38%, to 16,574.83 on Thursday.

Dow Jones Industrial Average e-mini futures were down 0.05% at 7:00 a.m. ET, while S&P 500 e-mini futures edged down 0.11% and Nasdaq 100 e-mini futures were down 0.20%.

TOP STORIES

U.S. President Donald Trump said on Thursday he was prepared to raise the case of two Canadians detained by Beijing with Chinese President Xi Jinping, an act that could potentially ease a major dispute between Canada and China.

Pot producer Canopy Growth Corp reported better-than-expected quarterly revenue on Thursday, as efforts to strengthen its retail operations paid off and increased production capacity resulted in higher sales following Canada's legalization of recreational cannabis.

​Chevron Phillips Chemical Company, a joint venture between Chevron Corp and Phillips 66, has offered to acquire Nova Chemicals Corp for more than $15 billion including debt, people familiar with the matter said on Thursday.

ANALYST RESEARCH HIGHLIGHTS

Kirkland Lake Gold Ltd: CIBC raises price target to C$58 from C$53

ARC Resources Ltd: TD Securities cuts price target to C$12.50 from C$13.50

Evertz Technologies Ltd: BMO raises price target to C$20 from C$19

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,396.3; +0.16%

US crude: $57.83; +1.33%

Brent crude: $65.66; +1.88%

U.S. ECONOMIC DATA DUE ON FRIDAY

0945 Markit composition flash PMI for June: Prior 50.9

0945 Markit manufacturing PMI flash for June: Expected 50.4; Prior 50.5

0945 Markit service PMI flash for June: Expected 51; Prior 50.9

1000 Existing home sales for May: Expected 5.25 mln; Prior 5.19 mln

1000 Existing home sales percentage change for May: Expected 1.2%; Prior -0.4%

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 Hrithik Kiran Bagade in Bengaluru; Editing by James Emmanuel)

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