February 9, 2016 / 12:31 PM / in 2 years

CANADA STOCKS-Futures lower on global economic growth concerns

Feb 9 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Tuesday as investors refrained from betting on riskier assets amid fears of a sustained global economic slowdown.

March futures on the S&P TSX index were down 0.55 percent at 7:15 a.m. ET.

No major economic releases are scheduled.

The Toronto Stock Exchange's S&P/TSX composite index fell on Monday as banking, energy and consumer stocks lost ground, offsetting gains among gold miners as global growth concerns mounted.

Dow Jones Industrial Average e-mini futures were down 0.59 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.61 percent and Nasdaq 100 e-mini futures were down 0.57 percent.

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

TOP STORIES

Canadian utility Fortis Inc said it would buy ITC Holdings Corp, the largest independent power transmission company in the United States, for $6.9 billion in cash and stock.

Faced with record low prices for heavy crude, Canadian energy companies are sacrificing other parts of their business to keep higher-cost oil sands production going and safeguard the billions already invested in these multi-decade projects.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,189.70; -0.68 pct

US crude : $30.19; +1.68 pct

Brent crude : $33.18; +0.91 pct

LME 3-month copper : $4,533.50; -1.67 pct

ANALYST RESEARCH HIGHLIGHTS

Calfrac Well Services Ltd : CIBC cuts rating to "sector performer" from "sector outperformer"

First Quantum Minerals Ltd : Goldman Sachs cuts rating to "sell" from "neutral"

Tahoe Resources Inc : Raymond James raises rating to "strong buy" from "outperform"

U.S. ECONOMIC DATA DUE ON TUESDAY

0855 Redbook mm: Prior -1.5 pct

0855 Redbook yy: Prior 0.8 pct

1000 JOLTS job openings for Dec: Expected 5.400 mln; Prior 5.431 mln

1000 Wholesale inventories mm for Dec: Expected -0.2 pct; Prior -0.3 pct

1000 Wholesale sales mm for Dec: Expected -0.4 pct; Prior -1.0 pct

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$1.39) (Reporting by Nikhil Kumar in Bengaluru)

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