February 6, 2018 / 12:25 PM / 6 months ago

CANADA STOCKS-TSX set to open lower amid global equities selloff

Feb 6 (Reuters) - Futures pointed to a lower opening for Canada’s main stock index on Tuesday as a rout in global equities triggered losses across major commodities.

March futures on the S&P TSX index were down 0.49 percent at 7:15 a.m. ET.

Trade balance data for December is due at 8:30 a.m. ET.

Canada’s main stock index slumped to a 4-1/2-month low on Monday as a global selloff and weakness in energy prices hit investor sentiment.

Dow Jones Industrial Average e-mini futures were down 1.17 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.66 percent and Nasdaq 100 e-mini futures were down 0.45 percent.

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TOP STORIES

Home sales in Toronto fell 22 percent in January from a year earlier as rising interest rates and tighter mortgage rules weighed on demand, but prices have stabilized as stubborn sellers and tight supply kept the correction in check.

Nutrien Ltd, the Canadian fertilizer and farm supply dealer created from the merger of Agrium Inc and Potash Corp of Saskatchewan this year, said it expected demand growth for potash in China and India to cool down in 2018.

Canada’s WestJet Airlines Ltd reported a 12 percent fall in fourth-quarter earnings, hurt by higher operating expenses as fuel prices increase.

ANALYST RESEARCH HIGHLIGHTS

CAE Inc: RBC raises target price to C$25 from C$24

Element Fleet Management Corp: RBC cuts target price to C$8 from C$12

Rogers Communications Inc: Morgan Stanley cuts price target to C$65 from C$71‍​

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1340.9; +0.59 pct

US crude: $63.43; -1.12 pct

Brent crude: $66.75; -1.29 pct

LME 3-month copper: $7084; -1.19 pct

U.S. ECONOMIC DATA DUE ON TUESDAY

0830 International trade mm $ for Dec: Expected -52.0 bln; Prior -50.5 bln

0830 Goods trade balance (R) for Dec: Prior -71.58 bln

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 = 1.25 CAD Reporting by Erum Khaled in Bengaluru

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