Jan 14 (Reuters) - Futures for Canada’s main stock index fell on Monday, as oil prices slipped on prospects of slowdown in fuel demand after China, the world’s second largest oil consumer, reported a surprisingly weak trade data for December.
China’s exports fell the most in two years in December, while imports also contracted, pointing to further weakness in the world’s second-largest economy in 2019 and deteriorating global demand.
March futures on the S&P/TSX index were down 0.31 percent at 7:00 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX .GSPTSE closed up 35.69 points, or 0.24 percent, at 14,939.18 on Friday.
Dow Jones Industrial Average e-mini futures were down 0.85 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.88 percent and Nasdaq 100 e-mini futures were down 1.13 percent.
Canadian athletic apparel maker Lululemon Athletica Inc on Monday raised its fourth-quarter profit and revenue forecasts, driven by strong sales during the holiday season.
Newmont Mining Corp said it would buy smaller rival Goldcorp Inc, in a deal valued at $10 billion, creating the world’s biggest gold producer by output.
ANALYST RESEARCH HIGHLIGHTS
Cogeco Communications Inc: Barclays raises target price to C$73 from C$70
Titan Mining: National Bank of Canada cuts rating to sector perform from outperform
West Fraser Timber Co Ltd: CIBC cuts rating to neutral from outperformer
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1295.5; +0.47 percent
US crude: $51.04; -1.07 percent
Brent crude: $59.92; -0.93 percent
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 Lisa Pauline Mattackal in Bengaluru; Editing by Arun Koyyur
Our Standards: The Thomson Reuters Trust Principles.