April 25, 2016 / 11:37 AM / a year ago

CANADA STOCKS-Futures flat as oil prices slip, gold steadies

April 25 (Reuters) - Canadian stock futures were little changed on Monday after crude oil prices slipped as traders took profits while gold steadied.

Moves were muted ahead of a two-day U.S. Federal Reserve policy that starts on Tuesday.

June futures on the S&P TSX index were down 0.01 percent at 7:30 a.m. ET.

No major economic events are scheduled for the day.

Canada’s main stock index edged lower on Friday, slightly reducing this week’s gains as gold stocks dragged, while higher oil prices supported energy stocks.

Gold steadied on Monday as a retreat in the dollar helped arrest the previous session’s 1.3 percent slide.

Dow Jones Industrial Average e-mini futures were down 0.11 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were down 0.08 percent and Nasdaq 100 e-mini futures were down 0.13 percent.

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

TOP STORIES

Canadian rig contractor Precision Drilling Corp posted a first-quarter loss, compared with a profit a year earlier, hurt by lower demand for rigs amid a prolonged slump in oil prices.

Reports that Bombardier Inc is involved in launching an airline in Iran are inaccurate, the Canadian planemaker said on Sunday, although it confirmed it was in talks for sales as its executive chairman visited the country to drum up business.

Canadian drugmaker Valeant Pharmaceuticals International Inc said it received additional notices of default from its bondholders as a result of a delay in filing its annual report.

COMMODITIES AT 7:30 a.m. ET

Gold futures : $1233.50; +0.39 pct

US crude : $43.41; -0.69 pct

Brent crude : $44.93; -0.35 pct

LME 3-month copper : $5000; -0.62 pct

ANALYST RESEARCH HIGHLIGHTS

Cascades Inc : RBC raises to “outperform” from “sector perform”

Equitable : National Bank Financial raises to “outperform” from “sector perform”

Home Capital Group Inc : NBF cuts to “sector perform” from “outperform”

U.S. ECONOMIC DATA DUE ON MONDAY

1000 New home sales-units for Mar: Expected 0.520 mln; Prior 0.512 mln

1000 New home sales change mm for Mar: Expected 1 pct; Prior 2.0 pct

1030 Dallas Fed Manufacturing Business Index for Apr: Prior -13.60

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$1.27) (Reporting by Anjali James in Bengaluru; Editing by Saumyadeb Chakrabarty)

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