February 8, 2016 / 12:31 PM / in 2 years

CANADA STOCKS-Oil prices drag futures lower

Feb 8 (Reuters) - Canada’s main stock index looked set to start lower on Monday as crude oil prices slipped after a meeting between Saudi Arabia and Venezuela provided little indication of an agreement between oil producers to curb supply.

March futures on the S&P TSX index were down 0.75 percent at 7:15 a.m. ET.

Building permits data is due at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index dipped on Friday as a selloff in U.S. technology stocks spilled over to Canada’s technology sector, but defensive names such as gold stocks helped cushion losses.

Dow Jones Industrial Average e-mini futures were down 1.19 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 1.24 percent and Nasdaq 100 e-mini futures were down 2 percent.

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

TOP STORIES

Daily spot trading volumes on currency trading platforms run by Thomson Reuters rebounded sharply in January from the previous month, according to figures published by the company late on Friday.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,174.70; +1.46 pct

US crude : $30.02; -2.82 pct

Brent crude : $33.28; -2.29 pct

LME 3-month copper : $4,587.00; -0.98 pct

ANALYST RESEARCH HIGHLIGHTS

Lake Shore Gold Corp : TD Securities raises target price to C$2 from C$1.85; rating “buy”

Stella-Jones Inc : Desjardins raises rating to “buy”; raises price target to C$51 from C$48

Suncor Energy Inc : RBC cuts target price to C$39 from C$40; rating “outperform”

U.S. ECONOMIC DATA DUE ON MONDAY

1000 Employment Trends for Jan: Prior 129.3

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$1.39) (Reporting by Nikhil Kumar in Bengaluru; Editing by Sriraj Kalluvila)

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