March 8, 2019 / 12:26 PM / 4 months ago

CANADA STOCKS-TSX futures down as oil prices fall on global growth worries

March 8 (Reuters) - Futures pointed to a lower open for Canada’s main stock index on Friday, as oil prices dropped on global growth worries after China reported weak export data and the European Central Bank warned of continued weakness.

March futures on the S&P/TSX index were down 0.28 percent at 7:00 a.m. ET.

Housing starts data will be out at 8:15 a.m., while employment numbers are due to be released at 8:30 a.m. ET.

The Toronto Stock Exchange S&P/TSX composite index ended 35.56 points, or 0.22 percent lower, at 16,056.51 on Thursday.

Dow Jones Industrial Average e-mini futures were down 0.42 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.43 percent and Nasdaq 100 e-mini futures were down 0.52 percent.

TOP STORIES

Oil sands producer MEG Energy Corp reported a bigger-than-expected quarterly loss on Thursday, as the company sold its bitumen crude at lower prices because of transportation bottlenecks.

Barrick Gold Corp is having “constructive” talks with rival Newmont Mining Corp about a possible joint venture in Nevada, Chief Executive Officer Mark Bristow told the CNBC television network on Thursday.

Miners Yamana Gold Inc, Glencore and Goldcorp Inc said on Thursday they signed an agreement to develop and operate Yamana’s Agua Rica gold and copper mine in Argentina using infrastructure and facilities of the three companies’ existing venture in the country.

ANALYST RESEARCH HIGHLIGHTS

Canadian Western Bank: RBC cuts rating to sector perform from outperform

Obsidian Energy Ltd: Canaccord Genuity cuts rating to hold from speculative buy

Paramount Resources: National Bank of Canada cuts rating to sector perform from outperform

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,293.4; +0.57 pct

US crude: $55.67; -1.75 pct

Brent crude: $65.14; -1.75 pct

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Non-farm payrolls for Feb: Expected 180,000; Prior 304,000

0830 Private payrolls for Feb: Expected 170,000; Prior 296,000

0830 Manufacturing payrolls for Feb: Expected 11,000; Prior 13,000

0830 Government payrolls for Feb: Prior 8,000

0830 Unemployment rate for Feb: Expected 3.9 pct; Prior 4.0 pct

0830 Average earnings mm for Feb: Expected 0.3 pct; Prior 0.1 pct

0830 Average earnings yy for Feb: Expected 3.3 pct; Prior 3.2 pct

0830 Average workweek hours for Feb: Expected 34.5 hrs; Prior 34.5 hrs

0830 Labor force partic for Feb: Prior 63.2 pct

0830 U6 underemployment for Feb: Prior 8.1 pct

0830 Building permits: number for Jan: Expected 1.289 mln; Prior 1.326 mln

0830 Housing starts number for Jan: Expected 1.197 mln; Prior 1.078 mln

0830 House starts mm: change for Jan: Prior -11.2 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 Hrithik Kiran Bagade in Bengaluru; Editing by Arun Koyyur)

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