CANADA STOCKS-TSX futures indicate lower start as oil extends losses

Wed Jan 14, 2015 7:27am EST
 
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Jan 14 (Reuters) - Stock futures pointed to a lower start for Canada's main stock index on Wednesday as oil prices fell further after the World Bank cut its global growth forecast for 2015 and 2016.

March futures on the S&P TSX index were down 0.64 percent at 7.15 a.m. ET.

No economic data is due on Wednesday.

Canada's main stock index fell on Tuesday as a selloff in copper prices sent shares of First Quantum Minerals Ltd and Teck Resources Ltd tumbling, while shares of gold-mining companies eased after a recent price run-up.

Dow Jones Industrial Average e-mini futures were down 0.37 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were down 0.32 percent and Nasdaq 100 e-mini futures were down 0.24 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

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Canada's largest oil and gas company Suncor Energy Inc said on Tuesday it would lay off about 1,000 employees and contractors, freeze hiring and slash C$1 billion ($837 million) in capital spending in response to falling crude oil prices.

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