March 14 (Reuters) - Stock futures pointed to a lower opening for Canada’s main index on Monday as Brent crude prices fell below $40 a barrel after Iran dashed hopes that there would be a coordinated production freeze any time soon, returning bearish sentiment to the market over a glut that has sent prices crashing.
March futures on the S&P TSX index were down 0.26 percent at 7:15 a.m. ET.
Canada’s main stock index rose on Friday, marking a new three-month high as an oil rally and improved risk appetite helped drive gains in energy and financial stocks.
Dow Jones Industrial Average e-mini futures were down 0.09 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.21 percent and Nasdaq 100 e-mini futures were down 0.12 percent.
Valeant Pharmaceuticals Inc is under pressure from investors to introduce more transparency into its operations and expand its management ranks to regain credibility in the investment community, people familiar with the situation said.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,258.00; -0.06 pct
US crude : $37.67; -2.18 pct
Brent crude : $39.70; -1.71 pct
LME 3-month copper : $4,960.50; -0.19 pct
ANALYST RESEARCH HIGHLIGHTS
Veresen Inc RBC cuts target prices to C$12 from C$16
U.S. ECONOMIC DATA DUE ON MONDAY
No major economic releases are scheduled for the day.
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TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.32) (Reporting by Riniki Sanyal in Bengaluru)
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