CANADA STOCKS-Lower oil prices drag futures lower

Tue May 3, 2016 7:32am EDT
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May 3 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Tuesday following a slide in oil prices as rising output from the Middle East and Northern Sea renewed concerns about global supply glut.

June futures on the S&P TSX index were down 1 percent at 7:15 a.m. ET.

Canada's main stock index fell on Monday as lower oil prices weighed on energy stocks, offsetting a jump in shares of Manitoba Telecom Services Inc on news of the company's acquisition by BCE Inc.

Dow Jones Industrial Average e-mini futures were down 0.65 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.69 percent and Nasdaq 100 e-mini futures were down 0.7 percent.

No major Canadian economic releases are scheduled for the day.

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Oil and gas producer Encana Corp posted a bigger-than-expected quarterly loss due to lower production amid a steep fall in oil prices.   Continued...