June 24, 2016 / 11:22 AM / in a year

CANADA STOCKS-Futures plummet as Britain seeks divorce from EU

June 24 (Reuters) - Stock futures pointed to a sharply lower opening for Canada’s main stock index on Friday as a decision by Britain to leave the European Union triggered one of the biggest slumps in world stocks on concerns over a broader economic slowdown.

September futures on the S&P TSX index were down 3.25 percent at 7:00 a.m. ET.

Dow Jones Industrial Average e-mini futures were down 3.05 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were down 3.69 percent and Nasdaq 100 e-mini futures were down 3.69 percent.

Canada’s benchmark stock index reached a nearly two-week high on Thursday, led by financial and energy stocks after a series of last-minute opinion polls pointed to Britain staying in the bloc.

No major economic events are scheduled for the day.

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

TOP STORIES

New rules from Alberta’s energy regulator determining which companies are deemed strong enough to buy assets are off the mark in terms of fairness and transparency, Penn West Petroleum Ltd’s chief executive said on Thursday.

COMMODITIES AT 7:00 a.m. ET

Gold futures : $1,327.20; +5.23 pct

US crude : $47.75; -4.69 pct

Brent crude : $48.44; -4.91 pct

LME 3-month copper : $4,678.00; -2.13 pct

ANALYST RESEARCH HIGHLIGHTS

Blackberry Ltd : RBC cuts price target to $7 from $8

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Durable goods for May: Expected -0.5 pct; Prior 3.4 pct

0830 Durables ex-transport for May: Expected 0.0 pct; Prior 0.5 pct

0830 Durables ex-defense mm for May: Prior 3.8 pct

0830 Nondefense cap ex-air for May: Expected 0.3 pct; Prior -0.6 pct

1000 U Mich Sentiment Final for Jun: Expected 94; Prior 94.3

1000 U Mich Conditions Final for Jun: Expected 111.4; Prior 111.7

1000 U Mich Expectations Final for Jun: Expected 83.1; Prior 83.2

1000 U Mich 1 year inflation final for Jun: Prior 2.4 pct

1000 U Mich 5-year inflation final for Jun: Prior 2.3 pct

1030 ECRI Weekly Index: Prior 136.5

1030 ECRI weekly annualized: Prior 7.1 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$1.30) (Reporting by Riniki Sanyal in Bengaluru; Editing by Don Sebastian)

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