CANADA STOCKS-Futures indicate lower start on weak data, Italy downgrade

Mon Dec 8, 2014 7:36am EST
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Dec 8 (Reuters) - Stock futures pointed to a lower start for Canada's main stock index on Monday as weak data from Asia and a cut in Italy's credit rating to just a notch above junk raised concerns over global economic growth.

December futures on the S&P TSX index were down 0.28 percent at 7.15 a.m. ET.

Building permits data is due at 7.00 p.m. ET

Canada's main stock index ended flat on Friday, rattled by lusterless bank earnings and weakness in oil and gas shares, a day after its biggest single-day drop in 18 months.

Dow Jones Industrial Average e-mini futures were down 0.27 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were down 0.18 percent and Nasdaq 100 e-mini futures were down 0.41 percent. (Morning News Call newsletter; The Day Ahead newsletter


Canada's embassy in Cairo was closed on Monday until further notice because of security concerns, an official answering its emergency telephone line said, the second diplomatic mission to shut its doors this week.

The slide in oil prices will probably cut Canadian economic growth by a third of a percentage point in 2015, not the 1/4 point the Bank of Canada estimated in late October, bank Governor Stephen Poloz told Reuters on Friday.   Continued...