September 25, 2019 / 11:32 AM / 2 months ago

CANADA STOCKS-TSX futures slip on lower oil prices

Sept 25 (Reuters) - Futures for Canada’s main index fell on Wednesday, as oil prices slipped over demand concerns.

U.S. President Donald Trump’s criticism of China’s trade practices at the United Nations General Assembly intensified worries over fuel demand.

December futures on the S&P/TSX index were down 16% at 7:05 a.m. ET.

The Toronto Stock Exchange’s TSX ended 0.41% lower at 16,798.33 on Tuesday.

Dow Jones Industrial Average e-mini futures were down 0.19% at 7:10 a.m. ET, while S&P 500 e-mini futures were down 0.23% and Nasdaq 100 e-mini futures were down 0.38%.

TOP STORIES

Lithium Americas Corp has cut its budget and production target for a proposed Nevada mine amidst growing concern of a global supply glut for the white metal, a key ingredient used to make electric vehicle batteries.

Enbridge said on Tuesday it had received a permit from the U.S. Army Corps of Engineers to install 54 steel supports along its underwater Line 5 pipeline in Michigan’s Straits of Mackinac.

ANALYST RESEARCH HIGHLIGHTS

Torex Gold Resources INC: CIBC initiates coverage with neutral rating and price target of C$20.50

Canadian Pacific Railway Ltd: BMO cuts target price to C$330 from C$335

Trisura Group Ltd: BMO raises target price to C$34 from C$32

COMMODITIES AT 7:05 a.m. ET

Gold futures: $1529; fell 0.23%

US crude: $56.47; fell 1.43%

Brent crude: $62.08; fell 1.62%

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0800 (Approx.) Build permits R number for Aug: Prior 1.419 mln

0800 (Approx.) Build permits R change mm for Aug: Prior 7.7%

1000 New home sales-units for Aug: Expected 0.660 mln; Prior 0.635 mln

1000 New home sales change mm for Aug: Expected 3.5%; Prior -12.8%

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$1.32) (Reporting by Sourav Bose in Bengaluru; Editing by Shailesh Kuber)

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