July 16, 2018 / 11:47 AM / 3 months ago

CANADA STOCKS-TSX futures lower as oil prices slip

July 16 (Reuters) - Futures for Canada’s main stock index were lower on Monday as oil prices fell on the back of easing concerns about supply disruptions and potential production increases by countries such as Russia.

September futures on the S&P/TSX index were down 0.1 percent at 7:15 a.m. ET.

Foreign and domestic securities data is due at 8:30 a.m. ET

The Toronto Stock Exchange’s S&P/TSX fell 6.30 points, or 0.04 percent on Friday, to 16,561.12 as materials and financials weighed.

Dow Jones Industrial Average e-mini futures were up 0.09 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.01 percent and Nasdaq 100 e-mini futures were up 0.1 percent.

TOP STORIES

Canadian government customs provisions are expected to soften the blow on the country’s powerful automotive industry from retaliatory tariffs on U.S. steel, according to trade lawyers and industry leaders bracing for higher costs.

The world’s biggest oil traders are counting hefty losses after a surprise doubling in the price discount of U.S. light crude to benchmark Brent in just a month, as surging U.S production upends the market.

Shares of Callidus Capital Corp, owned by private equity firm Catalyst Capital Group Inc, slumped nearly 29 percent on Friday after the Canadian lender eliminated its dividend payments to support business growth.

ANALYST RESEARCH HIGHLIGHTS

Maple Leaf Foods Inc: RBC raises target price to C$36 from C$34

Saputo Inc: RBC raises target price to C$52 from C$49

West Fraser Timber Co Ltd: RBC raises rating to “outperform” from “sector perform”

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,244.7; +0.28 pct

U.S. crude: $69.81; -1.69 pct

Brent crude: $73.65; -2.23 pct

LME 3-month copper: $6,176.5; -0.97 pct

U.S. ECONOMIC DATA DUE ON MONDAY

0830 NY Fed Manufacturing for July: Expected 22; Prior 25

0830 Retail sales ex-autos mm for Jun: Expected 0.4 pct; Prior 0.9 pct

0830 Retail sales mm for Jun: Expected 0.5 pct; Prior 0.8 pct

0830 Retail ex gas/autos for Jun: Prior 0.8 pct

0830 Retail control for Jun: Expected 0.4 pct; Prior 0.5 pct

1000 Business inventories mm for May: Expected 0.4 pct; Prior 0.3 pct

1000 Retail inventories ex-auto rev for May: Prior 0.1 pct

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$1.31) (Reporting by Nandi Kaul in Bengaluru; Editing by Maju Samuel)

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