January 5, 2016 / 12:25 PM / 2 years ago

CANADA STOCKS-China continues to scare investors, futures trade lower

Jan 5 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Tuesday as weakness in China’s markets continued to weigh on investors’ sentiment.

March futures on the S&P TSX index were down 0.48 percent at 7:15 a.m. ET.

Statistics Canada is scheduled to report producer prices data for November at 8:30 a.m. ET.

Canada’s main stock index fell on Monday, weighed down by financial, consumer and industrial stocks as a slump in Chinese shares and weak economic data spooked investors in the first session of 2016.

Dow Jones Industrial Average e-mini futures were down 0.71 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.70 percent and Nasdaq 100 e-mini futures were down 0.66 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Canada’s Manulife Financial Corp is looking to revive a plan to list a real estate investment trust in Singapore this year after an initial public offering was shelved last year due to poor market conditions.

Canada’s Brookfield Asset Management and Chile’s Colbun will bid for the controlling stake in Colombian power generator Isagen at an auction on Jan. 13, the Colombian Finance Ministry said on Monday.

A Canadian investment management firm launched on Monday the first-ever real-time index monitoring the outright price of heavy Canadian crude, based on prices published by derivatives exchange ICE Futures Europe.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,077.20; +0.20 pct

US crude : $36.47; -0.79 pct

Brent crude : $36.90; -0.86 pct

LME 3-month copper : $4,658.50; +1.10 pct

ANALYST RESEARCH HIGHLIGHTS

Air Canada : BMO cuts target price to C$13 from C$17

BCE Inc : Credit Suisse reinstates coverage with “neutral” rating; target price of C$55

WestJet Airlines Ltd : BMO cuts target price to C$29 from C$32

U.S. ECONOMIC DATA DUE ON TUESDAY

0855 Redbook mm: Prior -0.5 pct

0855 Redbook yy: Prior 2.5 pct

0945 ISM-New York Index for Dec: Prior 710.6

0945 ISM NY Biz Conditions for Dec: Prior 60.7

1330 Domestic car sales for Dec: Expected 5.65 mln; Prior 5.71 mln

1330 Domestic truck sales for Dec: Expected 8.55 mln; Prior 8.72 mln

1330 Total vehicle sales for Dec: Expected 18.10 mln; Prior 18.19 mln

1330 All car sales for Dec: Prior 7.81 mln

1330 All truck sales for Dec: Prior 10.38 mln

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$1.39) (Reporting by Nikhil Kumar in Bengaluru; Editing by Maju Samuel)

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