March 14, 2016 / 11:33 AM / in 2 years

CANADA STOCKS-Futures lower as oil prices fall

March 14 (Reuters) - Stock futures pointed to a lower opening for Canada’s main index on Monday as Brent crude prices fell below $40 a barrel after Iran dashed hopes that there would be a coordinated production freeze any time soon, returning bearish sentiment to the market over a glut that has sent prices crashing.

March futures on the S&P TSX index were down 0.26 percent at 7:15 a.m. ET.

Canada’s main stock index rose on Friday, marking a new three-month high as an oil rally and improved risk appetite helped drive gains in energy and financial stocks.

Dow Jones Industrial Average e-mini futures were down 0.09 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.21 percent and Nasdaq 100 e-mini futures were down 0.12 percent.

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

TOP STORIES

Valeant Pharmaceuticals Inc is under pressure from investors to introduce more transparency into its operations and expand its management ranks to regain credibility in the investment community, people familiar with the situation said.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,258.00; -0.06 pct

US crude : $37.67; -2.18 pct

Brent crude : $39.70; -1.71 pct

LME 3-month copper : $4,960.50; -0.19 pct

ANALYST RESEARCH HIGHLIGHTS

Veresen Inc RBC cuts target prices to C$12 from C$16

U.S. ECONOMIC DATA DUE ON MONDAY

No major economic releases are scheduled for the day.

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$1.32) (Reporting by Riniki Sanyal in Bengaluru)

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