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CANADA STOCKS-Futures lower as oil, commodities prices drop
May 29, 2017 / 11:28 AM / 6 months ago

CANADA STOCKS-Futures lower as oil, commodities prices drop

May 29 (Reuters) - Stock futures pointed to a slightly lower opening for Canada’s main stock index on Monday as oil and commodity prices weakened.

Oil prices slipped as increased U.S. drilling activity outweighed an OPEC-led push to tighten supply.

June futures on the S&P TSX index were down 0.07 percent at 7:15 a.m. ET (1115GMT).

No economic data is scheduled for release.

U.S. stock markets are closed for Memorial day.

Canada’s main stock index ended barely higher in subdued trade on Friday as small gains for some big banks and a boost for gold miners from higher bullion prices were offset by declines in pipeline companies and railway stocks.

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TOP STORIES

Canada’s Fairfax Financial Holdings plans to sell a 12.2 percent stake in its Indian joint venture insurer ICICI Lombard in a deal that will value the company at 203 billion rupees, the Indian company said on Saturday.

ANALYST RESEARCH HIGHLIGHTS

Blackberry Ltd: Raymond James cuts rating to “market perform” from “outperform”

Sandvine Corp: National Bank of Canada raises price target to C$4.50 from C$3.25

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,268.5; -0.09 pct

U.S. crude: $49.62; -0.32 pct

Brent crude: $52.01; -0.27 pct

LME 3-month copper: $5,667.15; -0.99 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$1.35) (Reporting by Nivedita Balu in Bengaluru; Editing by James Dalgleish)

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