April 5, 2016 / 11:42 AM / in a year

CANADA STOCKS-TSX set to open lower as oil prices slip

April 5 (Reuters) - Canadian stock futures inched lower on Tuesday as oil prices slipped to a one-month low, following a surprise fall in gasoline demand in the United States and scepticism over a potential deal to freeze output.

June futures on the S&P TSX index were down 0.85 percent at 7:30 a.m. ET.

Trade balance, exports and imports data are due at 8:30 a.m. ET

Canada’s main stock index fell on Monday as lower commodity prices weighed on mining and energy stocks, while financial sector stocks also lost ground.

Dow Jones Industrial Average e-mini futures were down 0.58 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were down 0.68 percent and Nasdaq 100 e-mini futures were down 0.55 percent.

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

TOP STORIES

Department store operator Hudson’s Bay Co reported a smaller-than-expected quarterly profit as expenses soared and sales at established Saks Fifth Avenue stores dropped.

Valeant Pharmaceuticals International Inc will cut its sales force for Addyi, a treatment aimed at female sexual dysfunction, as well as some employees who sell dermatology products, according to an internal memo seen by Reuters.

COMMODITIES AT 7:30 a.m. ET

Gold futures : $1,231.7; +1.12 pct

US crude : $35.63; -0.20 pct

Brent crude : $37.58; -0.32 pct

LME 3-month copper : $4,765.00; 0.09 pct

ANALYST RESEARCH HIGHLIGHTS

Shaw Communications : Barclays reinstates with equal weight; C$26 target

Corus Entertainment : Barclays reinstates with underweight; C$11 target

Enercare Inc : NBF resumes coverage with outperform rating; C$18.50 price target

U.S. ECONOMIC DATA DUE ON TUESDAY

0830 International trade mm for Feb: Expected -$46.2 bln; Prior -$45.7 bln

0855 Redbook mm: Prior 3.1 pct

0855 Redbook yy: Prior 1.5 pct

0945 Markit Services PMI Final for Mar: Prior 51.0

0945 Markit Composite Final PMI for Mar: Prior 51.1

1000 ISM N-Manufacturing PMI for Mar: Expected 54.0; Prior 53.4

1000 ISM N-Manufacturing Business Activity for Mar: Expected 57.4; Prior 57.8

1000 ISM N-Manufacturing Employment Index for Mar: Prior 49.7

1000 ISM N-Manufacturing New Orders Index for Mar: Prior 55.5

1000 ISM N-Manufacturing Price Paid Index for Mar: Prior 45.5

1000 Jolts job openings for Feb: Expected 5.500 mln; Prior 5.541 mln

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$1.31) (Reporting by Anjali James in Bengaluru)

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