March 29, 2016 / 1:03 PM / a year ago

CANADA STOCKS-TSX drops as producer prices hit lowest since Dec 2014

3 Min Read

March 29 (Reuters) - Canadian stock futures inched lower on Tuesday, after data showed the biggest monthly decline for producer prices in over a year, driven by a drop in prices for energy and petroleum products.

Canadian producer prices fell 1.1 percent in February, far exceeding economists' expectations for a decline of 0.2 percent, data from Statistics Canada showed.

June futures on the S&P TSX index were down 0.64 percent at 8:55 a.m. ET.

Canada's main stock rose on Monday following a long weekend, as strengthening financial and consumer shares offset losses in healthcare and commodity-related stocks.

Dow Jones Industrial Average e-mini futures were down 0.39 percent at 8:55 a.m. ET, while S&P 500 e-mini futures were down 0.30 percent and Nasdaq 100 e-mini futures were down 0.23 percent.

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

COMMODITIES AT 8:55 a.m. ET

Gold futures : $1,217.80; -0.18 pct

US crude : $38.47; -2.34 pct

Brent crude : $39.32; -2.36 pct

LME 3-month copper : $4,925.50; -0.39 pct

Analyst Research Highlights

Sears Canada : Desjardins cuts target price to C$4.75 from C$8.50

Barrick Gold Corp : Canaccord Genuity raises target price to C$21.50 from C$21

u.s. Economic Data Due on Tuesday

0855 Johnson Redbook Index mm: Prior 2.9 pct

0855 Johnson Redbook Index yy: Prior 0.8 pct

0900 CaseShiller 20 mm SA for Jan: Expected 0.7 pct; Prior 0.8 pct

0900 CaseShiller 20 mm NSA for Jan: Expected 0.1 pct; Prior 0.0 pct

0900 CaseShiller 20 yy for Jan: Expected 5.8 pct; Prior 5.7 pct

1000 Consumer Confidence for Mar: Expected 94.0; Prior 92.2

1030 Texas Service Sector Outlook for Mar: Prior -19.2

1030 Dallas Fed Services Revenue for Mar: Prior 9.7

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; Editing by Don Sebastian)

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