Nov 24 (Reuters) - Canada’s main stock index looked set to open lower on Monday following another selloff in global commodities, with gold falling toward a near six-year low.
December futures on the S&P TSX index were down 0.10 percent at 7:15 a.m. ET.
Canada’s main stock index pulled back on Friday as weakness in heavyweight energy and material stocks amid volatile oil price action and a disappointing drop in retail sales tarnished a week of decent gains.
Dow Jones Industrial Average e-mini futures were down 0.1 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.06 percent and Nasdaq 100 e-mini futures were down 0.03 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Private equity firm CVC Capital Partners Ltd and Canada Pension Plan Investment Board are nearing a deal to acquire Petco Holdings Inc, valuing it at around $4.7 billion, including debt, according to people familiar with the matter.
Canada’s national energy regulator has halted construction on a new TransCanada Corp natural gas pipeline after reviewing evidence that it may have spilled a toxic drilling fluid into a major Western Canadian river, a spokesman said on Friday.
The Canadian province of Alberta, home to the country’s controversial oil sands, said on Sunday it will implement an economy-wide tax on carbon emissions in 2017, addressing long-standing criticism it is not doing enough to combat climate change.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,067.6; -0.82 pct
US crude : $42.11; +0.7 pct
Brent crude : $45.4; +1.75 pct
LME 3-month copper : $4,499; -1.77 pct
ANALYST RESEARCH HIGHLIGHTS
Bank of Montreal : KBW raises target price to C$79 from C$78
Bank of Nova Scotia : KBW cuts target price to C$63 from C$64
Timmins Gold Corp : Numis cuts to hold from buy; cuts target price to C$0.24 from C$1.10
U.S. ECONOMIC DATA DUE ON MONDAY
0830 National Activity Index for Oct: Prior -0.37
0945 Markit Manufacturing PMI Flash for Nov: Expected +53.9; Prior +54.1
1000 Existing home sales for Oct: Expected 5.40 mln; Prior 5.55 mln
1000 Existing home sales pct change for Oct: Expected -1.9 pct; Prior +4.7 pct
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TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory
$1= C$1.34 Reporting by Ayesha Sruti Ahmed in Bengaluru; Editing by Sriraj Kalluvila
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