November 28, 2014 / 12:32 PM / 3 years ago

CANADA STOCKS-TSX may open lower after OPEC shuns output cut

2 Min Read

Nov 28 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Friday as oil prices slumped after OPEC decided to refrain from cutting output despite a supply glut.

December futures on the S&P TSX index were down 0.29 percent at 7:15 a.m. ET.

GDP, producer prices and budget balance data are due to release later in the day.

Canada's main stock index declined on Thursday as oil prices plunged after the outcome of an Organization of the Petroleum Exporting Countries meeting disappointed investors, dragging down shares of energy producers.

Dow Jones Industrial Average e-mini futures were down 0.19 percent at 7:15 a.m. ET, S&P 500 e-mini futures were down 0.13 percent, while Nasdaq 100 e-mini futures were up 0.12 percent. (Morning News Call newsletter; The Day Ahead newsletter

Top Stories

Germany has approved Canadian smartphone maker BlackBerry's planned acquisition of Secusmart, the encryption technology of which is used to protect the mobile devices of top politicians including Chancellor Angela Merkel.

Canada's current account deficit in the third quarter unexpectedly narrowed to C$8.40 billion ($7.43 billion), its best performance in six years, Statistics Canada data indicated on Thursday.


Gold futures : $1,181.8; -1.24 pct

US crude : $68.98; -6.36 pct

Brent crude : $72.76; 0.25 pct

LME 3-month copper : $6,461.25; -1.46 pct

Analyst Research Highlights

Alderon Iron ADV.TO: TD Securities cuts target to C$2 from C$3; rating "speculative buy"

Great Prairie Energy GPE.V: Canaccord cuts target to C$0.50 from C$0.60; rating "buy"

u.s. Economic Data Due on Friday

No major economic events are scheduled.

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$1.14 Reporting by Pradip Kakoti in Bangalore; Editing by Saumyadeb Chakrabarty

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