CANADA STOCKS-TSX set to open lower as oil slump continues

Tue Dec 16, 2014 7:33am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

Dec 16 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Tuesday as the plunge in oil prices and failure of an emergency interest rate hike by Russia to stabilize the rouble sent another shock through global financial markets.

December futures on the S&P TSX index were down 0.3 percent at 07:15 a.m. ET.

Manufacturing sales data for October is due at 08:30 a.m. ET .

Oil fell to close to $59 a barrel for the first time since May 2009 on Tuesday, extending a six-month selloff.

A surge in shares of takeover target Talisman Energy Inc was not enough to keep Canada's main stock index in the black on Monday after falling more than 5 percent last week, with the broader resource-extraction industries weighing.

Dow Jones Industrial Average e-mini futures were down 0.62 percent at 07:15 a.m. ET, while S&P 500 e-mini futures were down 0.41 percent and Nasdaq 100 e-mini futures were down 0.37 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Repsol has agreed to buy Talisman Energy, Canada's fifth-largest independent oil producer, for $13 billion, showing how the drop in oil prices is pushing energy companies to take the plunge on big M&A deals. [ID: nL6N0TZ2QF]

Encana Corp, Canada's largest natural gas producer, said it would spend more in 2015 as it shifts its focus to its four higher-margin oil-rich shale fields. [ID: nL3N0U03W8]   Continued...