June 15 (Reuters) - Futures pointed to a lower opening for Canada’s main stock index on Friday as oil prices fell after Saudi Arabia and Russia hinted that two of the world’s biggest producers would increase output.
Ahead of an OPEC meeting in Vienna on June 22-23, Russian Energy Minister Alexander Novak said on Thursday after talks with Saudi Energy Minister Khalid al-Falih in Moscow that both nations “in principle” supported a gradual increase in production after restricting output for 18 months.
June futures on the S&P/TSX index were down 0.18 percent at 7:15 a.m. ET.
April manufacturing sales data is due at 8:30. a.m. ET
The Toronto Stock Exchange’s S&P/TSX rose 63.14 points, or 0.39 percent, to 16,328.96, on Thursday.
Dow Jones Industrial Average e-mini futures were down 0.57 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.39 percent and Nasdaq 100 e-mini futures were down 0.34 percent.
Wheat containing a genetically modified trait developed by Monsanto Co to tolerate the Roundup weed-killer was discovered last summer in Canada’s Alberta province, the Canadian Food Inspection Agency said on Thursday.
ANALYST RESEARCH HIGHLIGHTS
Nevsun Resources Ltd: Eight Capital raises target price to C$5 from C$4.75
Transat AT Inc: Desjardins cuts price target to C$15 from C$18
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1302.4; fell 0.45 percent
US crude: $66.67; fell 0.33 percent
Brent crude: $75.17; fell 1.01 percent
LME 3-month copper: $7151; fell 0.36 percent
U.S. ECONOMIC DATA DUE ON FRIDAY
0915 Industrial production mm for May: Expected 0.2 pct; Prior 0.7 pct
0915 Capacity utilization mm for May: Expected 78.1 pct; Prior 78.0 pct
0915 Manufacturing output mm for May: Expected 0.1 pct; Prior 0.5 pct
1000 U Mich Sentiment Preliminary for June: Expected 98.5; Prior 98.0
1000 U Mich Conditions Preliminary for June: Expected 113.0; Prior 111.8
1000 U Mich Expectations Preliminary for June: Expected 89.7; Prior 89.1
1000 U Mich 1 year inflation preliminary for June: Prior 2.8 pct
1000 U Mich 5-year inflation preliminary for June: Prior 2.5 pct
1600 Net L-T flows, exswaps for April: Prior $61.8 bln
1600 Foreign buying, T bonds for April: Prior -$4.9 bln
1600 Overall net capital flows for April: Prior -$38.5 bln
1600 Net L-T flows, including swaps for April: Prior $48.4 bln
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Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.31) (Reporting by Debanjan Bose in Bengaluru; Editing by Shounak Dasgupta) )
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