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CANADA STOCKS-Futures point to a lower start as oil prices fall
February 24, 2017 / 12:16 PM / 5 months ago

CANADA STOCKS-Futures point to a lower start as oil prices fall

3 Min Read

Feb 24 (Reuters) - Stock futures indicated a lower start for Canada's main stock index on Friday as oil prices slipped due to a surge in U.S. crude inventories for a seventh week.

March futures on the S&P TSX index were down 0.42 percent at 7:15 a.m. ET.

Canadian inflation data is due at 8:30 a.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index fell to a 10-day low on Thursday as financial and industrial shares pared recent gains, while the materials group lost ground as base metal prices slumped.

Dow Jones Industrial Average e-mini futures were down 0.38 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.41 percent and Nasdaq 100 e-mini futures were down 0.52 percent.

(Morning News Call newsletter:

Top Stories

Royal Bank of Canada reported a 24 percent rise in first-quarter net income to more than C$3 billion, beating analysts expectations.

MacDonald Dettwiler and Associates Ltd said it agreed to buy U.S.-based satellite imagery provider DigitalGlobe Inc for about C$3.10 billion to strengthen its position in the U.S. market.

Canadian auto parts maker Magna International Inc, reported a lower-than-expected quarterly profit as costs rose.

Analyst Research Highlights

Altus Group Ltd: Canaccord Genuity cuts price target to C$36 from C$38; rating "buy"

Canadian Imperial Bank of Commerce: RBC raises target price to C$119 from C$118

Exchange Income Corp: Canaccord Genuity cuts target price to C$49 from C$49.5


Gold futures: $1253.4; +0.26 percent

US crude: $54.08; -0.68 percent

Brent crude: $56.13; -0.8 percent

LME 3-month copper: $5889.5; +0.52 percent

u.s. Economic Data Due on Friday

1000 U Mich Sentiment Final for Feb: Expected 96.0; Prior 95.7

1000 U Mich Conditions Final for Feb: Expected 111.2; Prior 111.2

1000 U Mich Expectations Final for Feb: Expected 85.5; Prior 85.7

1000 U Mich 1 year inflation final for Feb: Prior 2.8 pct

1000 U Mich 5 year inflation final for Feb: Prior 2.5 pct

1000 New home sales-units for Jan: Expected 0.570 mln; Prior 0.536 mln

1000 New home sales change mm for Jan: Expected 6.3 pct; Prior -10.4 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$1.31)

Reporting by Shradha Singh in Bengaluru; Editing by Savio D'Souza

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