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Futures lower as oil dips on concerns of rising output


Reuters

Nov 14 (Reuters) - Canada's main stock index was poised for a lower open on Tuesday after oil prices fell for a third day, hit by rising U.S. output.

December futures on the S&P TSX index were down 0.9 percent at 7:15 a.m. ET.

Canada's main stock index fell for the fourth straight session on Monday as the energy sector, which had been a major driver of the index's rally since September, declined by 1.3 percent.

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TOP STORIES

Brookfield Property Partners LP, one of the world's largest commercial real estate companies, on Monday made an unsolicited bid to buy the 66 percent stake in mall owner GGP Inc it does not already own for $14.8 billion.

Canadian plane-and-train-maker Bombardier Inc is in advanced talks with EgyptAir over a potential $1.1 billion order for CSeries jets, Bloomberg reported, citing people familiar with the matter.

Canada'sCenovus Energy Inc has reached a deal to sell its Weyburn oil facility for C$940 million, the company said on Monday, completing its main divesture plans.

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,273.7; -0.41 pct

US crude: $56.39; -0.44 pct

Brent crude: $63.85; -0.43 pct

LME 3-month copper: $6,859.50; -0.44 pct

ANALYST RESEARCH HIGHLIGHTS

ARC Resources Ltd: Credit Suisse cuts price target to C$21 from C$23

Cenovus Energy Inc: CIBC raises price target to C$16 from C$14.50

U.S. ECONOMIC DATA DUE ON TUESDAY

0830 PPI final demand yy for Oct: Expected 2.4 pct; Prior 2.6 pct

0830 PPI final demand mm for Oct: Expected 0.1 pct; Prior 0.4 pct

0830 PPI ex food/energy yy for Oct: Expected 2.3 pct; Prior 2.2 pct

0830 PPI ex food/energy mm for Oct: Expected 0.2 pct; Prior 0.4 pct

0830 PPI ex food/energy/transport yy for Oct: Prior 2.1 pct

0830 PPI ex food/energy/transport mm for Oct: Prior 0.2 pct

($1= C$1.27)




This article appears in: Stocks , World Markets , Politics
Referenced Symbols: BPY ,


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