March 9, 2017 / 12:52 PM / in 8 months

CANADA STOCKS-Futures drop as oil prices fall; Fed in focus

Stock futures pointed to a lower opening for Canada's main stock
index on Thursday as U.S. crude prices fell below $50 per barrel
and investors geared up for a likely increase in interest rate
this month by the U.S. Federal Reserve.
    March futures on the S&P TSX index         were down 0.17
percent at 7:15 a.m. ET.
    New home prices data is due at 8:30 a.m. ET         
    The Toronto Stock Exchange's S&P/TSX composite index closed
down 0.72 percent at 15,496.98 on Wednesday, falling more than
100 points as a sharp drop in oil prices weighed on energy
shares, while the financial and industrial groups also lost
ground.             
    Dow Jones Industrial Average e-mini futures         were
down 0.12 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
       were down 0.1 percent and Nasdaq 100 e-mini futures
       were down 0.07 percent.     
    
 (Morning News Call newsletter here
 ; The Day Ahead newsletter here)
    
    TOP STORIES          
    Royal Dutch Shell          has agreed to sell most of its
Canadian oil sands assets for $8.5 billion, the latest
international oil major to withdraw from the costly projects,
which are among the most carbon heavy.             
    Taiwan's Cathay Financial Holding Co           is in
exclusive talks to acquire the Malaysian unit of Canada's Bank
of Nova Scotia         , in a deal that could be valued at
around $200 million to $300 million.             
    Canadian auto parts maker Linamar Corp          on Wednesday
reported a 21.8 percent increase in quarterly profit, helped in
part by the acquisition of France's Montupet SA last year.
            
    
    ANALYST RESEARCH HIGHLIGHTS         
    Pretium Resources Inc         : RBC raises rating to
"outperform" from "sector perform"
    Yellow Pages Ltd       : Canaccord Genuity cuts rating to
"speculative buy" from "buy"
    Bellatrix Exploration         : Canaccord Genuity raises
rating to "speculative buy" from "hold"
    
    COMMODITIES AT 7:15 a.m. ET           
    Gold futures       : $1204.5; -0.33 percent       
    US crude       : $49.3; -2.29 percent      
    Brent crude        : $52.15; -2.13 percent      
    LME 3-month copper        : $5667.5; -1.74 percent        
    
    U.S. ECONOMIC DATA DUE ON THURSDAY
    08:30 Import prices mm for Feb: Expected 0.1 pct; Prior 0.4
pct
    08:30 Export prices mm for Feb: Expected 0.2 pct; Prior 0.1
pct
    08:30 Initial jobless claims: Expected 235,000; Prior
223,000
    08:30 Jobless claims 4-week average: Prior 234,250
    08:30 Continued jobless claims: Expected 2.060 mln; Prior
2.066 mln
    
    FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
    TSX market report      
    Canadian dollar and bonds report             
    Reuters global stocks poll for Canada              
          
    Canadian markets directory         
 

 (Reporting by Nayyar Rasheed in Bengaluru; Editing by Sriraj
Kalluvila)
  

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below