CANADA STOCKS-Futures lower on weak oil prices

Tue Feb 2, 2016 7:30am EST
 
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Feb 2 (Reuters) - Canada's main stock index looked set to start on a lower note on Tuesday after a sharp drop in oil prices triggered caution among investors.

Oil prices fell more than 3 percent, dented by worries about the demand outlook and rising supply, while hopes for a deal between OPEC and Russia on output cuts faded.

March futures on the S&P TSX index were down 0.74 percent at 7:15 a.m. ET.

No major economic events are scheduled for the day.

The Toronto Stock Exchange's S&P/TSX composite index lost ground on Monday, with shares in energy companies weighing heavily as oil prices tumbled and weak economic data out of Europe and China exacerbated concerns about a global slowdown.

Dow Jones Industrial Average e-mini futures were down 0.61 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.65 percent and Nasdaq 100 e-mini futures were down 0.66 percent.

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

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