CANADA STOCKS-Futures trade lower as oil prices fall

Mon Jan 25, 2016 7:22am EST
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Jan 25 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Monday as oil prices fell after Iraq announced record-high production, feeding into a heavily oversupplied market.

March futures on the S&P TSX index were down 0.39 percent at 7:15 a.m. ET.

No major economic events are scheduled.

The Toronto Stock Exchange's S&P/TSX composite index scored its biggest rally in more than four years on Friday, led by oil and gas stocks as crude prices surged and investors welcomed hints of more stimulus from global central banks.

Dow Jones Industrial Average e-mini futures were down 0.28 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.21 percent and Nasdaq 100 e-mini futures were down 0.25 percent.

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The oil price rout and related Canadian dollar slide that is ravaging the country's economy is starting to take its toll on corporate profits, from rail and retail to seemingly unrelated sectors like telecoms.   Continued...