CANADA STOCKS-Futures indicate lower open as oil prices weigh
Stock futures pointed to a lower opening for Canada's main stock index on Monday, as oil prices slipped on concerns over China's economic growth and Russia's oil output. March futures on the S&P TSX index were down 0.09 percent at 7:15 a.m. ET. The Toronto Stock Exchange's S&P/TSX composite index closed at a 1-week high on Friday as oil prices gained and Federal Reserve Chair Janet Yellen pointed to a U.S. interest rate hike this month, while investors embraced recent strengthening of the Canadian economy. Dow Jones Industrial Average e-mini futures were down 0.12 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.25 percent and Nasdaq 100 e-mini futures were down 0.18 percent. (Morning News Call newsletter here ; The Day Ahead newsletter here) TOP STORIES Hydro One Ltd is in talks to buy municipal electricity distributor Toronto Hydro Corp for about C$3 billion as the city of Toronto explores options to finance various infrastructure projects, people with knowledge of the matter told Reuters. Hudson's Bay Co , owner of the Lord & Taylor and Saks Fifth Avenue retail chains, has yet to line up equity financing for a bid for Macy's Inc , over a month after approaching its U.S. peer, people familiar with the matter said. The Keystone XL oil pipeline does not need to be made from U.S. steel, despite an executive order by President Donald Trump days after he took office requiring domestic steel in new pipelines, the White House said on Friday. ANALYST RESEARCH HIGHLIGHTS Alimentation Couche Tard : National Bank cuts target price to C$74 from C$77 Toronto-Dominion Bank : KBW raises target price to C$68 from C$66 Transcontinental Inc : National Bank raises target price to C$25 from C$23 COMMODITIES AT 7:15 a.m. ET Gold futures : $1230; +0.37 percent US crude : $52.97; -0.68 percent Brent crude : $55.51; -0.7 percent LME 3-month copper : $5856; -1.03 percent U.S. ECONOMIC DATA DUE ON MONDAY 10:00 Durables ex-defense, R mm for Jan: Prior 1.5 pct 10:00 Durable goods, R mm for Jan: Prior 1.8 pct 10:00 Factory orders mm for Jan: Expected 1.0 pct; Prior 1.3 pct 10:00 Durables ex-transport R mm for Jan: Prior -0.2 pct 10:00 Nondefense cap ex-air R mm for Jan: Prior -0.4 pct 10:00 Factory ex-transport mm for Jan: Prior 2.1 pct 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$1.34) (Reporting by Nayyar Rasheed in Bengaluru; Editing by Savio D'Souza)
© Thomson Reuters 2017 All rights reserved.