for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

CANADA STOCKS-TSX futures plunge as coronavirus spreads outside China

Feb 24 (Reuters) - Canada’s main stock index futures sank on Monday as oil prices fell 4% on rising demand worries following a rise in coronavirus cases outside China.

The number of virus cases in South Korea, Iran and Italy rose, adding to investor concerns about scale of economic disruption to global growth.

Brent crude LCOc1 was down $2.37, or 4.1%, to $56.13 barrel by 1145 GMT. U.S. crude futures CLc1 fell by $2.08, or 3.9%, to $51.30.

March futures on the S&P/TSX index were down 1.48% at 7:00 a.m. ET.

Wholesale trade data is due at 8:30 a.m. ET

The Toronto Stock Exchange’s TSX index closed 0.56% down to 17,843.53 on Friday.

Dow Jones Industrial Average e-mini futures were down 2.38% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 2.26% and Nasdaq 100 e-mini futures were down 2.54%.

ANALYST RESEARCH HIGHLIGHTS

CCL Industries Inc: RBC cuts target price to C$61 from C$69

George Weston Ltd: RBC raises target price to C$129 from C$127

Teck Resources Ltd: CIBC cuts target price to C$34 from C$39

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1678.7; +2.04%

US crude: $51.38; -3.75%

Brent crude: $56.21; -3.91%

U.S. ECONOMIC DATA DUE ON MONDAY

0830 National Activity Index for Jan: Prior -0.35

1030 (approx.) Dallas Fed Manufacturing Business Index for Feb: Prior -0.20

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 Pooja Kesavan in Bengaluru

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up