May 22 (Reuters) - Stock futures for Canada’s main equity index edged lower on Wednesday as oil prices fell due to an increase in U.S. crude inventories and on demand worries related to the U.S.-China trade war.
June futures on the S&P/TSX index were down 0.16% at 7:00 a.m. ET.
Retail sales data for March is due at 8:30 a.m. ET
The Toronto Stock Exchange’s S&P/TSX rose 24.72 points, or 0.15%, to 16,426.47 on Tuesday.
Dow Jones Industrial Average e-mini futures were down 0.09% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.14% and Nasdaq 100 e-mini futures were down 0.3%.
Canadian miner Barrick Gold Corp said on Tuesday it has proposed to acquire all of the shares it does not already own in Acacia Mining Plc through a share-for-share exchange of 0.153 Barrick shares for each ordinary share of Acacia.
Canadian Imperial Bank of Commerce missed quarterly profit estimates, as sluggish loan growth and higher loan loss provisions in retail banking more than offset gains in its capital markets business.
ANALYST RESEARCH HIGHLIGHTS
Franco-Nevada Corp: RBC cuts rating to sector perform from outperform
Osisko Gold Royalties Ltd: Canaccord Genuity cuts target price to C$17 from C$17.50
Premium Brands Holdings Corp: TD Securities raises target price to C$96 from C$93
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1273.4; +0.02%
US crude: $62.58; -0.87%
Brent crude: $71.82; -0.5%
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$1 = C$1.34 Reporting by Yoganand KN in Bengaluru; Editing by Arun Koyyur
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