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CANADA STOCKS-Futures indicate lower start to the week
October 20, 2014 / 11:32 AM / 3 years ago

CANADA STOCKS-Futures indicate lower start to the week

Oct 20 - Stock futures pointed to a lower opening for Canada’s main stock index on Monday, with December futures on the S&P TSX index down 0.27 percent at 0730 ET.

Canadian wholesale trade data is due at 0830 ET.

The Toronto Stock Exchange’s S&P/TSX composite index reached its highest in a week on Friday as positive U.S. economic data and a rise in oil prices boosted the energy sector.

Dow Jones Industrial Average e-mini futures were down 0.56 percent at 0730 ET, while S&P 500 e-mini futures were down 0.28 percent and Nasdaq 100 e-mini futures were down 0.19 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Valeant Pharmaceuticals International Inc, embroiled in a bitter fight to take over Botox-maker Allergan Inc, posted a better-than-expected quarterly profit, helped by strong sales in all its markets.

Canadian Pacific Railway Ltd said it had ended talks to buy No. 3 U.S. railroad operator CSX Corp.

COMMODITIES AT 0730 ET

Gold futures : $1,243.90; +0.44 pct

US crude : $82.84; +0.11 pct

Brent crude : $85.8; -0.42 pct

LME 3-month copper : $6,559.0; -1.21 pct

ANALYST RESEARCH HIGHLIGHTS

Fairfax Financial Holdings Ltd : CIBC raises target price to C$450 from C$425; rating “sector underperformer”

Xtreme Drilling and Coil Services : Global Hunter Securities resumes coverage with “accumulate” rating; price target C$3.70

U.S. ECONOMIC DATA DUE ON MONDAY

No major economic events are scheduled.

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$1.13 Reporting by Nikhil Kumar; Editing by Saumyadeb Chakrabarty

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