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Futures decline as oil prices slip


Reuters


Nov 9 (Reuters) - Canada's main stock index futures fell on Friday, as a fall in oil prices due to increased global supply of crude dragged down energy shares.

December futures on the S&P/TSX index were down 0.48 percent at 6:56 a.m. ET.

The Toronto Stock Exchange'sS&P/TSX closed down 11.96 points, or 0.08 percent, at 15,357.47, on Thursday.

TOP STORIES

U.S. cannabis retailer Harvest Enterprises Inc is set to raise $230 million (C$303 million) in a deal that would value the company at about $1.5 billion when it goes public in Toronto as early as next week, people familiar with the situation told Reuters on Thursday.

Germany's antitrust regulator on Friday approved the planned merger of department store chains Kaufhof and Karstadt, owned by Canada'sHudson's Bay Co (HBC) and Austria'sSigna Holding.

Construction industry leaders in British Columbia are urging the Canadian government to ease new limits on steel imports that they fear will have a disproportionate impact on the western province, according to a letter seen by Reuters.

ANALYST RESEARCH HIGHLIGHTS

Canadian Tire Corporation: Barclays raises target price to C$193 from C$190

Industrial Alliance Insurance: RBC raises rating to outperform from sector perform

Precision Drilling Corp: Canaccord Genuity raises rating to buy from hold

Trinidad Drilling Ltd: Canaccord Genuity cuts rating to hold from buy

Stantec Inc: CIBC cuts rating to neutral from outperformer

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1219.3; fell 0.47 percent

US crude: $59.81; fell 1.42 percent

Brent crude: $69.71; fell 1.33 percent

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 PPI final demand mm for Oct: Expected 0.2 pct; Prior 0.2 pct

0830 PPI exfood/energy yy for Oct: Expected 2.3 pct; Prior 2.5 pct

0830 PPI exfood/energy mm for Oct: Expected 0.2 pct; Prior 0.2 pct

0830 PPI ex food/energy/transport yy for Oct: Prior 2.9 pct

0830 PPI ex food/energy/transport mm for Oct: Prior 0.4 pct

0830 U Mich Sentiment Preliminary for Nov: Expected 98.0; Prior 98.6

1000 U Mich Conditions Preliminary for Nov: Expected 114.4; Prior 113.1

1000 U Mich Expectations Preliminary for Nov: Expected 88.6; Prior 89.3

1000 U mich 1year inflation preliminary for Nov: Prior 2.9 pct

1000 U mich 5-year inflation preliminary for Nov: Prior 2.4 pct

1000 Wholesale inventory, R mm for Sep: Expected 0.3 pct; Prior 0.3 pct

1000 Wholesale sales mm for Sep: Expected 0.5 pct; Prior 0.8 pct

($1 = C$1.32)




This article appears in: Stocks , World Markets , Politics



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