January 14, 2015 / 12:32 PM / 3 years ago

CANADA STOCKS-TSX futures indicate lower start as oil extends losses

Jan 14 (Reuters) - Stock futures pointed to a lower start for Canada's main stock index on Wednesday as oil prices fell further after the World Bank cut its global growth forecast for 2015 and 2016.

March futures on the S&P TSX index were down 0.64 percent at 7.15 a.m. ET.

No economic data is due on Wednesday.

Canada's main stock index fell on Tuesday as a selloff in copper prices sent shares of First Quantum Minerals Ltd and Teck Resources Ltd tumbling, while shares of gold-mining companies eased after a recent price run-up.

Dow Jones Industrial Average e-mini futures were down 0.37 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were down 0.32 percent and Nasdaq 100 e-mini futures were down 0.24 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Canada's largest oil and gas company Suncor Energy Inc said on Tuesday it would lay off about 1,000 employees and contractors, freeze hiring and slash C$1 billion ($837 million) in capital spending in response to falling crude oil prices.

Canadian regional cable and internet company Cogeco Cable Inc reported a higher quarterly profit, helped by increased revenue from the American cable services business.

A Canadian Pacific Railway Ltd train derailed in northern Ontario on Tuesday, leaking propane and closing down a nearby highway, the railway said in an emailed statement.

COMMODITIES AT 7.15 a.m. ET

Gold futures : $1,225.60; -0.7 pct

US crude : $45.95; -0.1 pct

Brent crude : $46.82; +0.5 pct

LME 3-month copper : $5,557.50; -5.2 pct

ANALYST RESEARCH HIGHLIGHTS

Imperial Oil Ltd : Barclays cuts price target to C$58 from C$67

Dragonwave Inc : CIBC cuts target price to C$2.75 from C$3

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Import prices mm for Dec: Expected -2.9 pct; Prior -1.5 pct

0830 Export prices mm for Dec: Expected -1.0 pct; Prior -1.0 pct

0830 Retail sales mm for Dec: Expected -0.1 pct; Prior 0.7 pct

0830 Retail sales ex-autos mm for Dec: Expected 0.0 pct; Prior 0.5 pct

0830 Retail ex-gas/autos for Dec: Prior 0.6 pct

0830 Retail Control for Dec: Expected 0.4 pct; Prior 0.6 pct

1000 Business inventories mm for Nov: Expected 0.2 pct; Prior 0.2 pct

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$1.20) (Reporting by Abhinav Kaul in Bengaluru; Editing by Kirti Pandey)

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