Oct 3 (Reuters) - Futures at Canada’s main stock exchange were little changed on Tuesday after oil prices dipped as investors took profits on some large positions that have built up in the last couple of weeks.
Brent notched up a third-quarter gain of about 20 percent, the biggest increase for the quarter since 2004, and traded as high as $59.49 last week, but has since fallen about 6 percent.
December futures on the S&P TSX index were down 0.02 percent at 7:31 a.m. ET.
Canada’s main stock index rose modestly on Monday as broad gains supported by the heavyweight financial sector offset the drag of energy stocks’ retreat with lower oil prices.
Dow Jones Industrial Average e-mini futures were up 0.12 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.05 percent and Nasdaq 100 e-mini futures were up 0.08 percent.
India’s Reliance Communications is reworking a planned $1.7 billion stake sale in its tower assets after scrapping a proposed merger of its wireless arm with smaller rival Aircel. Brookfield, which was to pay 110 billion rupees ($1.7 billion) for the majority stake in company’s tower arm, will revalue the assets after the Aircel deal was scrapped, Punit Garg, an executive director at the telecoms carrier was quoted as saying by newspapers Business Standard and Hindu Business Line.
Scotia Capital Inc, a unit of Bank of Nova Scotia, and Alberta Investment Management Corp said they would cut their stake in the owner of Toronto Stock Exchange to less than 5 percent each.
Mark Kokes, the man who was leading BlackBerry Ltd’s efforts to make money from its patent portfolio has left to join a health technology company, two sources with knowledge of the move said on Monday.
ANALYST RESEARCH HIGHLIGHTS
Heroux Devtek Inc: Desjardins raises target price to C$18 from C$15
Metro Inc: Barclays raises price target to C$45 from C$44
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1270.9; -0.14 percent
US crude: $50.48; -0.2 percent
Brent crude: $56.04; -0.14 percent
LME 3-month copper: $6505; +0.18 percent
U.S. ECONOMIC DATA DUE ON TUESDAY
0945 ISM-New York Index for Sep: Prior 748.8
0945 ISM NY Business Conditions for Sep: Prior 56.6
1530 Domestic car sales for Sep: Expected 4.50 mln; Prior 4.36 mln
1530 Total vehicle sales for Sep: Expected 16.90 mln; Prior 16.14 mln
1530 Domestic truck sales for Sep: Expected 8.23 mln; Prior 8.32 mln
1530 All car sales for Sep: Prior 6.03 mln
1530 All truck sales for Sep: Prior 10.11 mln
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$1 = C$1.25 Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by Arun Koyyur
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