January 14, 2019 / 12:29 PM / 4 months ago

CANADA STOCKS-TSX futures down as oil prices slip on weak China trade data

Jan 14 (Reuters) - Futures for Canada’s main stock index fell on Monday, as oil prices slipped on prospects of slowdown in fuel demand after China, the world’s second largest oil consumer, reported a surprisingly weak trade data for December.

China’s exports fell the most in two years in December, while imports also contracted, pointing to further weakness in the world’s second-largest economy in 2019 and deteriorating global demand.

March futures on the S&P/TSX index were down 0.31 percent at 7:00 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX .GSPTSE closed up 35.69 points, or 0.24 percent, at 14,939.18 on Friday.

Dow Jones Industrial Average e-mini futures were down 0.85 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.88 percent and Nasdaq 100 e-mini futures were down 1.13 percent.

TOP STORIES

Canadian athletic apparel maker Lululemon Athletica Inc on Monday raised its fourth-quarter profit and revenue forecasts, driven by strong sales during the holiday season.

Newmont Mining Corp said it would buy smaller rival Goldcorp Inc, in a deal valued at $10 billion, creating the world’s biggest gold producer by output.

ANALYST RESEARCH HIGHLIGHTS

Cogeco Communications Inc: Barclays raises target price to C$73 from C$70

Titan Mining: National Bank of Canada cuts rating to sector perform from outperform

West Fraser Timber Co Ltd: CIBC cuts rating to neutral from outperformer

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1295.5; +0.47 percent

US crude: $51.04; -1.07 percent

Brent crude: $59.92; -0.93 percent

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$1.33)

Reporting by Lisa Pauline Mattackal in Bengaluru; Editing by Arun Koyyur

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