October 10, 2014 / 11:39 AM / in 3 years

TSX set to open lower on global growth concerns

A man walks past an old Toronto Stock Exchange (TSX) sign in Toronto, June 23, 2014. REUTERS/Mark Blinch

(Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Friday on mounting worries over the pace of global growth.

December futures on the S&P TSX index SXFc1 were down 0.37 percent at 0720 ET.

Employment data is due at 0830 ET ECONCA.

The country’s main stock index .GSPTSE dropped sharply on Thursday as worries about the health of the global economy hit investor sentiment and shares of energy producers dived as oil prices fell.

Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.39 percent at 0720 ET on Friday, S&P 500 e-mini futures ESc1 were down 0.35 percent and Nasdaq 100 e-mini futures NQc1 were down 0.80 percent. [.N]

TOP STORIES [TOP/CAN]

The Canadian government stands ready to act to cool the housing market if necessary but does not see a housing bubble or the need for any dramatic moves, Finance Minister Joe Oliver said on Thursday.

With marijuana still illegal on a federal level in the United States, American investors in Canadian medical marijuana can be seen as violating the Controlled Substances Act, according to some U.S experts. And the use of the banking system to transfer the proceeds of such investments could be seen as money laundering.

COMMODITIES AT 0720 ET [COM/WRAP]

Gold futures GCc2: $1217.00; -0.62 pct [GOL/]

US crude CLc1: $84.80; -1.13 pct [O/R]

Brent crude LCOc1: $89.33; -0.80 pct [O/R]

LME 3-month copper CMCU3: $6,639.25; -1.2 pct [MET/L]

ANALYST RESEARCH HIGHLIGHTS [RCH/CA]

Bankers Petroleum Ltd BNK.TO: Wood & Co raises to “buy” from “hold”

Manitok Energy Inc MEI.V: Canaccord Genuity cuts to “speculative buy” from “buy”

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Import Prices mm for Sep: Expected -0.7 pct; Prior -0.9 pct

0830 Export Prices mm for Sep: Expected -0.1 pct; Prior -0.5 pct

1030 ECRI Weekly Index: Prior 134.6

1030 ECRI Weekly Annualized: Prior +1.8 pct

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report [.TO]

Canadian dollar and bonds report [CAD/] [CA/]

Reuters global stocks poll for Canada EQUITYPOLL1 <EPOLL/CA>

Canadian markets directory CANADA

Reporting by Benny Thomas in Bangalore; Editing by Savio D'Souza

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