October 27, 2014 / 11:29 AM / 3 years ago

CANADA STOCKS-Futures point to a lower start to the week

3 Min Read

Oct 27 - Stock futures pointed to a lower opening for Canada's main stock index on Monday, with December futures on the S&P TSX index down 0.13 percent at 7.15 a.m. ET.

No major Canadian economic events are scheduled.

The Toronto Stock Exchange's S&P/TSX composite index recorded its biggest weekly gain in more than a year on Friday, led by a jump in shares of Agrium Inc after an activist investor revealed early in the day it has taken a stake in the company.

Dow Jones Industrial Average e-mini futures were down 0.05 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were down 0.11 percent and Nasdaq 100 e-mini futures were down 0.02 percent.

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

Top Stories

Precision Drilling Corp, Canada's largest oil and natural gas drilling contractor, reported a better-than-expected 79 percent jump in quarterly profit, helped by higher pricing and drilling activity.

Oil explorer Ophir Energy has agreed to buy interests in seven deepwater production-sharing contracts in Indonesia from Niko Resources, building on Ophir's foray into the south-east Asian market.

Valeant Pharmaceuticals International Inc said it is prepared to improve its offer for Allergan Inc to at least $200 per share.


Gold futures : $1,230.10; -0.1 pct

US crude : $80.51; -0.60 pct

Brent crude : $85.26; -1.01 pct

LME 3-month copper : $6,692.50; +0.04 pct

Analyst Research Highlights

Canaccord Genuity : RBC cuts rating to "sector perform" from "outperform"

IGM Financial : CIBC cuts target price to C$47.50 from C$49.50; rating "sector underperformer"

Rio Alto Mining : BMO raises rating to "outperform" from "market perform"

u.s. Economic Data Due on Monday

09:45 Markit Comp Flash PMI for Oct: Prior 58.8

09:45 Markit Svcs PMI Flash for Oct: Expected 58.0; Prior 58.9

10:00 Pending Homes Index for Sep: Prior 104.7

10:00 Pending Sales Change mm for Sep: Expected 0.5 pct; Prior -1.0 pct

10:30 Dallas Fed Mfg B Index for Oct: Prior 10.80

TBA Build Permits R Numbr mm for Sep: Prior 1.018 mln

TBA Build Permits R Chg mm for Sep: Prior 1.5 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$1.12 Reporting by Nikhil Kumar in Bangalore; Editing by Savio D'Souza

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