November 28, 2014 / 1:53 PM / in 3 years

UPDATE 1-CANADA STOCKS-TSX may open lower after OPEC shuns output cut

(Adds econ data)

Nov 28 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Friday as oil prices slumped after Organization of the Petroleum Exporting Countries decided to refrain from cutting output despite a supply glut.

December futures on the S&P TSX index were down 0.18 percent at 8.30 a.m. ET.

Budget balance data is due at 10 a.m. ET.

Canada's main stock index declined on Thursday as oil prices plunged after the outcome of an OPEC meeting disappointed investors, dragging down shares of energy companies.

Dow Jones Industrial Average e-mini futures were down 0.12 percent at 8.30 a.m. ET, S&P 500 e-mini futures were up 0.01 percent, while Nasdaq 100 e-mini futures were up 0.27 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Canadian producer prices in October fell by 0.5 percent from September, largely as a result of lower energy and petroleum product prices, Statistics Canada data indicated on Friday.

Canada's economy grew at a higher-than-expected annualized rate of 2.8 percent in the third quarter, following second quarter growth of 3.6 percent, according to Statistics Canada data on Friday.

Germany has approved Canadian smartphone maker BlackBerry's planned acquisition of Secusmart, the encryption technology of which is used to protect the mobile devices of top politicians including Chancellor Angela Merkel.

COMMODITIES AT 8.30 a.m. ET

Gold futures : $1,185.80; -0.99 pct

US crude : $69.42; -5.79 pct

Brent crude : $73.28; 0.95 pct

LME 3-month copper : $6,426.50; -2.01 pct

ANALYST RESEARCH HIGHLIGHTS

Alderon Iron : TD Securities cuts target to C$2 from C$3; rating "speculative buy"

Great Prairie Energy : Canaccord cuts target to C$0.50 from C$0.60; rating "buy"

U.S. ECONOMIC DATA DUE ON FRIDAY

No major economic events are scheduled.

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$1.14) (Reporting by Pradip Kakoti in Bangalore; Editing by Saumyadeb Chakrabarty and Kirti Pandey)

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