February 19, 2015 / 12:32 PM / 2 years ago

CANADA STOCKS-TSX set to open lower as crude declines

3 Min Read

Feb 19 (Reuters) - Canadian stocks were set to open lower on Thursday after a sharp fall in crude prices.

March futures on the S&P TSX index were down 0.1 percent at 7:15 a.m. ET.

No major economic events are scheduled.

Canada's main stock index slipped on Wednesday, its first decline in six sessions, as shares of oil and gas companies were weighed down by the stalling momentum of a recent rally in the price of oil.

Dow Jones Industrial Average e-mini futures were down 0.08 percent at 7:15 a.m. ET on Thursday and S&P 500 e-mini futures were down 0.13 percent, while Nasdaq 100 e-mini futures were up 0.1 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

Top Stories

Barrick Gold Corp said on Wednesday it will sell its Porgera mine in Papua New Guinea and its Cowal mine in Australia to help reduce net debt by at least $3 billion by year-end, giving investors a long-awaited glimpse into its strategy.

Protracted contract talks between Canadian National Railway Co and the union that represents 4,800 of its mechanical, clerical and intermodal staff are at an impasse, and the union says it is considering a strike vote.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,216.9; +1.43 pct

US crude : $50.08; -3.95 pct

Brent crude : $58.93; -2.64 pct

LME 3-month copper : $5,712.5; -0.57 pct

Analyst Research Highlights

Restaurant Brands : Bofa Merrill cuts to "neutral" from "buy"

Trinidad Drilling : Raymond James raises to "outperform" from "market perform"

Timmins Gold Corp : PI Financial cuts to "neutral" from "buy"

u.s. Economic Data Due on Thursday

0830 Initial jobless claims: Expected +293,000; Prior +304,000

0830 Continued jobless claims: Expected +2.374 mln; Prior +2.354 mln

1000 Leading Index change mm for Jan: Expected +0.3 pct; Prior +0.5 pct

1000 Philly Fed Business Index for Feb: Expected +9.3; Prior +6.3

1000 Philly Fed 6M Index for Feb: Prior +50.90

1000 Philly Fed Capex Index for Feb: Prior +13.20

1000 Philly Fed employment for Feb: Prior -2.0

1000 Philly Fed prices paid for Feb: Prior +9.8

1000 Philly Fed new orders for Feb: Prior +8.5

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$1.25 Reporting by Nandi Kaul in Bengaluru

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