TSX futures drop as trade war, recession worries weigh
Aug 12 (Reuters) - Futures for Canada's main stock index pointed to a lower opening on Monday, as oil prices dropped amid worries of an economic slowdown and a year-long Sino-U.S. trade tariff tussle.
September futures in the S&P/TSX index SXFc1 were down 0.44%, as of 7:00 a.m. ET.
The Toronto Stock Exchange's S&P/TSX .GSPTSE dropped 63.19 points, or 0.39%, to 16,341.34 on Friday.
Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.57% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.54% and Nasdaq 100 e-mini futures NQc1 were down 0.55%. .N
TOP STORIES TOP/CAN
Canada's largest airline Air Canada AC.TO has raised the value of its offer to buy Canadian tour operator Transat AT Inc TRZ.TO to about C$720 million, or C$18 per share, from its earlier offer of C$13 a share, the companies said in a joint statement.
Great Pacific Capital Corp has offered to take private Canadian integrated forest products company Canfor Corp CFP.TO at C$16 per share, or about C$2 billion overall, payable in cash, it said on Sunday.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Algoma Central Corp ALC.TO: Cormark Securities cuts target price by C$2 to C$17
Cervus Equipment Corp CERV.TO: CIBC cuts rating to "neutral" from "outperformer"
CES Energy Solutions CEU.TO: RBC raises rating to "outperform" from "sector-perform"
COMMODITIES AT 7:00 a.m. ET COM/WRAP
Gold futures GCc2: $1,505.4; +0.45% GOL/
US crude CLc1: $53.91; -1.08% O/R
Brent crude LCOc1: $58.18; -0.6% O/R
U.S. ECONOMIC DATA DUE ON MONDAY
1400 Federal budget for July: Expected -$112.50 bln; Prior -$8.00 bln
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
(Reporting by Hrithik Kiran Bagade in Bengaluru, Editing by Sherry Jacob-Phillips)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.