June 15, 2020 / 11:34 AM / 2 months ago

CANADA STOCKS-TSX futures fall on weaker oil prices

June 15 (Reuters) - Canada’s main stock index futures fell on Monday, as oil prices slumped on concerns over a second wave of COVID-19 infections.

Oil prices dropped as new coronavirus infections hit China, Japan and the United States, adding to concerns that a resurgence of the virus could hit a recovery in fuel demand.

June futures on the S&P/TSX index were down 1.46% at 7:00 a.m. ET.

Manufacturing sales data for April is due at 8:30 a.m. ET.

On Friday, the Toronto Stock Exchange’s S&P/TSX composite index ended 1.37% higher at 15,256.57.

Dow Jones Industrial Average e-mini futures were down 2.55%, while S&P 500 e-mini futures were down 2.11% and Nasdaq 100 e-mini futures were down 1.61%.

TOP STORIES

Britain’s Cineworld Group Plc said on Friday it abandoned its $1.65 billion deal to buy Cineplex Inc, citing what it termed the Canadian company’s breaches in the merger agreement between the cinema operators.

First Majestic Silver Corp has asked Canada’s ambassador to Mexico to intervene in an escalating tax dispute with President Andres Manuel Lopez Obrador’s government, the Canadian miner’s chief executive said on Friday.

ANALYST RESEARCH HIGHLIGHTS

Docebo Inc: Canaccord Genuity raises price target to C$32 from C$28

Major Drilling Group International: RBC raises rating to outperform from sector perform

TFI International Inc: CIBC raises rating to neutral from underperformer

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1709.8; -1.28%

US crude: $35.4; -2.37%

Brent crude: $38.21; -1.34%

U.S. ECONOMIC DATA DUE ON MONDAY

0830 NY Fed Manufacturing for June: Expected -27.50; Prior -48.50

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$1.37) (Reporting by Yoganand KN; Editing by Subhranshu Sahu)

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