January 17, 2019 / 12:29 PM / 10 months ago

CANADA STOCKS-TSX futures fall on dip in oil prices

Jan 17 (Reuters) - Stock futures for Canada’s main stock index traded lower on Thursday pressured by a fall in oil prices, as U.S. crude production neared a record 12 million barrels per day in early January.

March futures on the S&P/TSX index were down 0.27 percent at 7:00 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX closed up 64.98 points, or 0.43 percent, at 15,111.26 on Wednesday.

Dow Jones Industrial Average e-mini futures were down 0.28 percent at 7:00 a.m. ET, S&P 500 e-mini futures 0.32 percent and Nasdaq 100 e-mini futures 0.36 percent.

TOP STORIES

Husky Energy Inc said it will not extend its hostile bid for MEG Energy after failing to get sufficient support from the rival oil producer’s board and shareholders.

Kinder Morgan Canada Ltd said on Wednesday its quarterly profit from continuing operations more than doubled as the company benefited from strong performance in its pipeline and terminal business.

Bombardier Inc aims to make a decision this year on the future of its CRJ regional jet as it “aggressively” pursues new orders to secure its industrial future, the Canadian planemaker’s chief executive officer said on Wednesday.

ANALYST RESEARCH HIGHLIGHTS

Iamgold Corp: Canaccord Genuity cuts price target to C$8.5 from C$9.0

Park Lawn Corp: National Bank of Canada cuts price target to C$30 from C$32

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1293.4; -0.03 percent

US crude: $51.53; -1.49 percent

Brent crude: $60.55; -1.26 percent

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims: Expected 220,000; Prior 216,000

0830 Jobless claims 4-week average: Prior 221,750

0830 Continued jobless claims: Expected 1.735 mln; Prior 1.722 mln

0830 Philly Fed Business Index for Jan: Expected 10; Prior 9.4

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 Shinjini Ganguli)

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