March 20 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Monday after financial leaders of the world’s biggest economies dropped a pledge to keep global trade free and open.
Breaking a decade-long tradition of endorsing open trade, G20 finance ministers and central bankers made only a token reference to trade in their communique on Saturday, a clear defeat for host nation Germany, which fought the new U.S. government’s attempts to water down past commitments.
June futures on the S&P TSX index were down 0.13 percent at 7:15 a.m. ET.
Wholesale trade data is due at 8:30 a.m. ET.
Canada’s benchmark stock index fell on Friday as financial stocks lost ground along with bond yields and as natural resource companies pulled back despite an uptick in commodity prices.
Dow Jones Industrial Average e-mini futures were down 0.03 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.12 percent and Nasdaq 100 e-mini futures were down 0.02 percent.
The Washington Cos said on Sunday it had previously made a proposal to acquire all of the outstanding common stock of mining company Dominion Diamond Corp. for $13.50 a share.
ANALYST RESEARCH HIGHLIGHTS
AutoCanada Inc: CIBC cuts target price to C$20 from C$22
BCE Inc: CIBC raises target price to C$60 from C$59
Stella-Jones Inc: Desjardins cuts price target to C$43 from C$45
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1233.5; +0.3 percent
US crude: $48.15; -1.29 percent
Brent crude: $51.29; -0.91 percent
LME 3-month copper: $5901; -0.57 percent
U.S. ECONOMIC DATA DUE ON MONDAY
08:30 National Activity Index for Feb: Prior -0.05
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$1.33) (Reporting by Nikhil Kumar in Bengaluru; Editing by Anil D’Silva)
Our Standards: The Thomson Reuters Trust Principles.