March 9 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Monday as a bullish U.S. jobs report raised fears that the Federal Reserve could increase interest rates sooner than expected.
March futures on the S&P TSX index were down 0.05 percent at 7:15 a.m. ET.
Housing starts, annualized for February, is due at 8:15 a.m. ET.
Canada’s main stock index dropped to its lowest in more than a month on Friday on worries that the Fed could raise rate rise in June after the U.S. economy added more new jobs than forecast in February and the unemployment rate fell to a more than 6 1/2-year low.
Dow Jones Industrial Average e-mini futures were down 0.17 percent at 7:15 a.m. ET, S&P 500 e-mini futures were down 0.17 percent and Nasdaq 100 e-mini futures were down 0.16 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Concordia Healthcare Corp, which makes drugs for rare diseases and devices for diabetic patients, said it would buy some assets of privately held Covis Pharma Holdings SARL for $1.2 billion in cash.
A Canadian National Railway Co train carrying crude oil that derailed near the northern Ontario community of Gogama early on Saturday is still on fire, the company said late on Sunday.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,749.6; -0.1 pct
US crude : $87.71; -0.65 pct
Brent crude : $110.92; -0.41 pct
LME 3-month copper : $7,782; +0.06 pct
ANALYST RESEARCH HIGHLIGHTS
BlackBerry : Goldman Sachs downgrades to “sell”, cuts target price to C$11 from C$12
Canadian Natural Resources : Barclays raises target to C$41 from C$39
GMP Capital Inc : CIBC raises to “sector performer” from “sector underperformer”
U.S. ECONOMIC DATA DUE ON MONDAY
1000 Employment Trends for Mar: Prior +127.9
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$1.26) (Reporting by Nandi Kaul in Bengaluru; Editing by Savio D’Souza)
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