CANADA STOCKS-Futures take a hit as oil falls further

Tue Sep 13, 2016 7:28am EDT
 
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Sept 13 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Tuesday as oil prices fell further on fears that the problem of oversupply may persist for much longer than anticipated.

The International Energy Agency said global supply would outpace demand well into the next year, a stark contrast to its assessment from a month ago that the market would show no surplus for the remainder of this year.

September futures on the S&P TSX index were down 0.37 percent at 7:15 a.m. ET.

Canada's main stock index rose on Monday, boosted by a surge in shares of Open Text Corp after the software company acquired a rival's assets, and by reduced bets on a U.S. Federal Reserve interest rate hike happening soon.

Dow Jones Industrial Average e-mini futures were down 0.52 percent at 7:15 a.m. ET. S&P 500 e-mini futures were down 0.57 percent and Nasdaq 100 e-mini futures were down 0.56 percent. (Morning News Call newsletter link.reuters.com/nex49s ; The Day Ahead newsletter link.reuters.com/mex49s)

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