April 20 (Reuters) - Canada’s main stock index futures fell on Monday as oil prices dropped, with U.S. crude futures hitting their lowest level since 1999 on concerns that the country’s crude storage will soon be full.
June futures on the S&P/TSX index were down 1.72% at 7:00 a.m. ET.
Wholesale trade data for February is due at 8:30 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index ended 3.31% higher at 14,359.88 on Friday.
Dow Jones Industrial Average e-mini futures were down 1.6% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 1.59% and Nasdaq 100 e-mini futures were down 0.91%.
Alimentation Couche-Tard Inc’s buyout of petrol station operator Caltex Australia Ltd has become the latest victim of the coronavirus outbreak, as fuel demand plunges and as companies look inward to get through the crisis.
Civil aviation training company CAE said it would recall 1,500 of its employees in Canada, furloughed in response to the coronavirus pandemic as a government wage subsidy program helps put workers back on payroll.
Canada’s steam-driven oil facilities are bearing the brunt of output cuts as the industry copes with low prices, and deeper reductions may risk permanent damage to the sites.
Asanko Gold Inc: Berenberg raises target price to C$1.80 from C$1.70
Lightspeed POS Inc: RBC initiates with sector perform and target price of C$25
Tervita Corp: TD Securities raises to buy from hold
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,687.7; -0.18%
US crude: $13.1; -28.3%
Brent crude: $27.01; -3.81%
0830 National Activity Index for Mar: Prior 0.16
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$1= C$1.41 Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Vinay Dwivedi