May 8, 2019 / 11:39 AM / 6 months ago

CANADA STOCKS-TSX futures slip on U.S.-China trade concerns

May 8 (Reuters) - Futures for Canada’s main stock index edged lower on Wednesday, as deepening U.S.-China trade tensions and global economy slowdown fears drove investors away from risky assets.

Chinese Vice Premier Liu He is due to visit Washington on Thursday and Friday for trade talks in a last-ditch bid to avert a sharp increase in tariffs on Chinese goods ordered by U.S. President Donald Trump.

June futures on the S&P/TSX index were down 0.12 percent at 7:00 a.m. ET.

Canada’s housing starts data for April is likely to be released at 8:15 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX fell 135.71 points, or 0.82 percent, to 16,357.75 on Tuesday.

Dow Jones Industrial Average e-mini futures were down 0.56 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.62 percent and Nasdaq 100 e-mini futures were down 0.79 percent.

TOP STORIES

Private equity firm Waterton Global Resource Management on Tuesday said it agreed to not increase its stake in Hudbay Minerals Inc, to more than 15 percent after the private equity firm settled its drawn out proxy contest with the Canadian miner.

Enbridge Inc is asking oil shippers to sign at least eight-year contracts to move crude on its Mainline pipeline network, as it proposes to shift away from a monthly allocation system, people with knowledge of the matter told Reuters.

ANALYST RESEARCH HIGHLIGHTS

Alaris Royalty Corp: RBC cuts price target to C$22 from C$25

Freehold Royalties Ltd: Eight Capital cuts price target to C$11.50 from C$12

WestJet Airlines Ltd: CIBC cuts price target to C$20 from C$21

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1291.2; +0.44 percent

US crude: $61.2; -0.33 percent

Brent crude: $69.54; -0.49 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

1100 TR IPSOS Primary Consumer Sentiment Index for May: Prior 60.71

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$1.35) (Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by Shounak Dasgupta)

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