CANADA STOCKS-Oil, commodity prices weigh on TSX futures

Mon May 8, 2017 7:44am EDT
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May 8 (Rueters) - Stock futures pointed to a lower opening for Canada's main stock index on Monday, weighed down by lower commodity prices.

Copper prices slid to a four-month low after data showed a sharp drop in imports in April into China, the world's biggest consumer.

Prices of aluminium, nickel, zinc and lead were also lower by between 0.5 percent and 1.2 percent.

Oil prices were little changed, but hovered near six-month lows as talks to extend a supply cut deal did little to soothe concerns about a glut amid a boom in U.S. drilling.

June futures on the S&P TSX index were down 0.25 percent at 7:15 a.m. ET.

On Friday, a rebound in commodity prices, especially oil, helped Canada's benchmark stock index notch its biggest advance in more than two months.

Dow Jones Industrial Average e-mini futures were up 0.1 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.06 percent and Nasdaq 100 e-mini futures were down 0.04 percent.

A report later in the day is expected to show Canadian housing starts slipped modestly in April, compared with March, but remained relatively robust.

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