February 22, 2017 / 12:44 PM / 5 months ago

CANADA STOCKS-Lower oil prices weigh on TSX futures

3 Min Read

Feb 22 (Reuters) - Canada's main stock index was set to start lower on Wednesday following a decline in oil prices as the dollar strengthened against a basket of currencies ahead of minutes from the U.S. Federal Reserve's last meeting.

March futures on the S&P TSX index were down 0.12 percent at 7:15 a.m. ET.

Canada retail sales data for December is due at 8:30 a.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index closed at a record high on Tuesday, with energy shares leading broad-based gains as oil prices climbed, while Restaurant Brands International Inc jumped more than 7 percent after it announced acquisition of Popeyes Louisiana Kitchen for $1.8 billion in cash.

Dow Jones Industrial Average e-mini futures were down 0.06 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.17 percent and Nasdaq 100 e-mini futures were down 0.08 percent.

(Morning News Call newsletter here ; The Day Ahead newsletter here)

Top Stories

Demonstrators near the site of the Dakota Access pipeline braced for a showdown with authorities, as protest leaders said at least some would defy a deadline to abandon the camp they have occupied for months to halt the project.

Canadian dairy company Saputo Inc bought out Australian firm Warrnambool Cheese and Butter Factory Co Holdings Ltd's (WCB) largest minority shareholder, Lion Pty Ltd, all but securing a takeover offer for the 12 percent of WCB that Saputo does not already own.

Canadian meat packaging company Maple Leaf Foods Inc's quarterly profit more than doubled as margins in its prepared meats business improved.

Analyst Research Highlights

Capital Power: National Bank Financial raises target price to C$30 from C$29

Sienna Senior Living Inc: CIBC raises target price to C$17.25 from C$17.00

Veresen Inc: Desjardins raises target price to C$14 from C$13; rating "hold"


Gold futures: $1237.1; -0.03 percent

US crude: $54.05; -0.52 percent

Brent crude: $56.4; -0.46 percent

LME 3-month copper: $5995; -1.07 percent

u.s. Economic Data Due on Wednesday

10:00 Existing home sales for Jan: Expected 5.54 mln; Prior 5.49 mln

10:00 Existing home sales percentage change for Jan: Expected 1.1 pct; Prior -2.8 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$1.32)

Reporting by Shradha Singh in Bengaluru; Editing by Maju Samuel

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