CANADA STOCKS-Fall in oil prices drag futures lower

Wed Feb 24, 2016 7:36am EST
 
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Feb 24 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Wednesday as investors shied away from riskier assets on the prospect of persistently low oil prices, which raised concerns about weak global economic growth.

Oil prices slipped after Saudi Arabia effectively ruled out output cuts by major producers and a U.S. industry report showed crude stockpiles hit a record.

March futures on the S&P TSX index were down 1.24 percent at 7:30 a.m. ET.

Canada's main stock index fell on Tuesday as lower crude oil prices weighed on energy stocks, while financials reversed course after being lifted in earlier trade by better-than-expected Bank of Montreal earnings.

Dow Jones Industrial Average e-mini futures were down 0.95 percent at 7:30 a.m. ET. S&P 500 e-mini futures were down 0.90 percent and Nasdaq 100 e-mini futures were down 1.27 percent.

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

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