CANADA STOCKS-Futures slip on falling oil prices

Mon Sep 12, 2016 7:40am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

Sept 12 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Monday as oil prices fell after a report showed that U.S. drillers last week continued their streak of rig additions.

Oil prices were further pressured after OPEC on Monday raised its forecast of oil supplies from non-member countries in 2017 as new fields come online and U.S. shale drillers prove more resilient than expected to cheap crude.

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

Canada's main stock index suffered its biggest loss since February on Friday, slumping to a five-week low as higher bond yields in major economies pressured global stock and commodity markets.

Dow Jones Industrial Average e-mini futures were down 0.60 percent at 7:15 a.m. ET. S&P 500 e-mini futures were down 0.59 percent and Nasdaq 100 e-mini futures were down 0.75 percent.

(Morning News Call newsletter ; The Day Ahead newsletter


Canada's Agrium Inc and Potash Corp of Saskatchewan Inc said they would combine, a deal that would create a fertilizer and farm retailing giant with proforma enterprise value of $36 billion but also trigger U.S. regulatory scrutiny.   Continued...