September 12, 2016 / 11:42 AM / 10 months ago

CANADA STOCKS-Futures slip on falling oil prices

2 Min Read

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

Top Stories

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.

Analyst Research Highlights

BRP Inc : CIBC raises target price to C$31 from C$28

Canadian National Railway Co : Barclays raises target price to C$89 from C$85

Suncor Energy Inc : JP Morgan raises target price to C$40 from C$39


Gold futures : $1324.2; -0.44 percent

US crude : $45.03; -1.85 percent

Brent crude : $47.18; -1.73 percent

LME 3-month copper : $4605; -0.6 percent

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$1.31) (Reporting by Sai Sharanya Khosla in Bengaluru)

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