Dec 14 (Reuters) - Stock futures pointed to a lower start
for Canada's main stock index on Monday as oil prices fell for
the seventh straight session.
Oil prices came close to 11-year lows on Monday on growing
fears that the global oil glut would worsen in the months to
come in a pricing war between leading OPEC and non-OPEC
producers.
December futures on the S&P TSX index SXFc1 were down 0.52
percent at 7:30 a.m. ET.
No major economic events are scheduled for the day ECONCA .
Canada's main stock index saw renewed selling pressure on
Friday after a two-day respite, recording its weakest close in
more than two years, including deep losses for financial and
energy stocks as crude oil prices hit fresh lows.
Dow Jones Industrial Average e-mini futures 1YMc1 were
down 0.40 percent at 7:30 a.m. ET, while S&P 500 e-mini futures
Esc1 were up 0.34 percent and Nasdaq 100 e-mini futures NQc1
were down 0.36 percent. .N
(Morning News Call newsletter http://link.reuters.com/nex49s;
The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES TOP/CAN
Oil and natural gas producer Encana Corp ECA.TO ECA.N ,
responding to a sharp drop in oil prices, has cut its 2016
capital budget by more than a quarter to $1.5 billion-$1.7
billion.
Drugmaker Valeant Pharmaceuticals (N:VRX) Inc VRX.TO , under
mounting pressure from U.S. Congress and prosecutors over its
drug pricing, has hired an attorney in Washington, DC and crisis
public relations experts with political connections, according
to sources familiar with the matter.
COMMODITIES AT 7:30 a.m. ET COM/WRAP
Gold futures GCc1 : $1,068; -0.83 pct GOL/
US crude CLc1 : $34.64; -2.72 pct O/R
Brent crude LCOc1 : $36.67; -3.24 pct O/R
LME 3-month copper CMCU3 : $4,672.50; -0.65 pct MET/L
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Badger Daylighting Ltd BAD.TO : Canaccord Genuity starts
coverage with "buy" rating; C$31 price target
BRP Inc DOO.TO : Canaccord Genuity cuts price target to
C$32 from C$33; rating "buy"
Hudson's Bay Co HBC.TO : Barclays (L:BARC) cuts price target to C$20
from C$27; rating "equal weight"
U.S. ECONOMIC DATA DUE ON MONDAY
No major economic events are scheduled for the day
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
($1= C$1.38)