November 16, 2016 / 12:32 PM / 8 months ago

CANADA STOCKS-TSX futures drop as oil prices retreat

3 Min Read

Nov 16 (Reuters) - Canada stock futures fell on Wednesday, along with oil prices as industry data showed an unexpected build in U.S. crude stocks in the previous week.

December futures on the S&P TSX index were down 0.36 percent at 7:15 a.m. ET.

Crude oil prices dropped more than 1 percent, returning some of the gains made in one of the year's biggest rallies a day earlier.

That had helped Canada's main stock index notch its biggest gain since September on Tuesday.

Dow Jones Industrial Average e-mini futures were down 0.25 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.34 percent and Nasdaq 100 e-mini futures were down 0.35 percent.

Canadian manufacturing sales slipped 0.1 percent in September after increasing 0.9 percent in August, a report due at 8:30 a.m. ET is expected to show.

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

Top Stories

Canadian grocery and pharmacy retailer Loblaw Cos Ltd reported a 25.5 percent rise in quarterly profit, helped by a drop in expenses and improved performances by its financial services and property businesses.

Analyst Research Highlights

First Quantum Minerals : Goldman Sachs raises target price to C$8 from C$5.50

Great-West Lifeco Inc : CIBC raises target price to C$36 from C$35

Whitecap Resources : Desjardins raises target price to C$12 from C$11.50

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,222.6; -0.15 pct

US crude : $45.19; -1.35 pct

Brent crude : $46.43; -1.11 pct

LME 3-month copper : $5,484.50; -0.76 pct

u.s. Economic Data Due on Wednesday

0830 PPI final demand yy for Oct: Expected +1.2 pct; Prior +0.7 pct

0830 PPI final demand mm for Oct: Expected +0.3 pct; Prior +0.3 pct

0830 PPI ex food/energy yy for Oct: Expected +1.5 pct; Prior +1.2 pct

0830 PPI ex food/energy mm for Oct: Expected +0.2 pct; Prior +0.2 pct

0830 PPI ex food/energy/transport yy for Oct: Prior +1.5 pct

0830 PPI ex food/energy/transport mm for Oct: Prior +0.3 pct

0915 Industrial output mm for Oct: Expected +0.2 pct; Prior +0.1 pct

0915 Capacity utilization mm for Oct: Expected +75.5 pct; Prior +75.4 pct

0915 Manufacturing output mm for Oct: Expected +0.3 pct; Prior +0.2 pct

1000 NAHB Housing Market Index for Oct: Expected 63; Prior 63

1600 Net L-T flows,exswaps for Sep: Prior +$48.3 bln

1600 Foreign buying, T-bonds for Sep: Prior -$24.8 bln

1600 Overall net capital flow for Sep: Prior +$73.8 bln

1600 Net L-T flows,including swaps for Sep: Prior +$31.1 bln

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$1.35) (Reporting by Nivedita Balu in Bengaluru; Editing by Savio D'Souza)

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