October 9, 2018 / 11:36 AM / 2 months ago

CANADA STOCKS-Futures lower on global growth fears

Oct 9 (Reuters) - Futures for Canada’s main stock index dipped on Tuesday, tracking world markets, as investors fretted over a weakening outlook for global economic growth.

The International Monetary Fund cut its global economic growth forecasts for 2018 and 2019, saying the U.S.-China trade war was taking a toll and emerging markets were struggling with tighter liquidity and capital outflows.

December futures on the S&P/TSX index were down 0.59 percent at 6:55 a.m. ET.

Data on September housing starts is due at 8:15 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX fell 60.50 points, or 0.38 percent, to 15,946.17 on Monday.

Dow Jones Industrial Average e-mini futures were down 0.37 percent at 6:55 a.m. ET, while S&P 500 e-mini futures were down 0.37 percent and Nasdaq 100 e-mini futures were down 0.35 percent.

TOP STORIES

Canada’s second-largest pension fund CDPQ and Generation Investment Management LLP said they were buying a majority stake in UK-based fintech firm FNZ in a deal valuing FNZ at $2.09 billion.

ANALYST RESEARCH HIGHLIGHTS

Canadian Pacific Railway Ltd: Raymond James raises price target to C$340 from C$305

Suncor Energy Inc: BMO raises target price to C$65 from C$60

Supremex Inc: IA Securities cuts target price to C$4.50 from C$5.25

COMMODITIES AT 6:55 a.m. ET

Gold futures: $1187.5; +0.14 percent

US crude: $74.81; +0.7 percent

Brent crude: $84.66; +0.89 percent

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$1.30) (Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by Anil D’Silva)

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