June 24 (Reuters) - Canada’s main stock index future fell on Wednesday, weighed down by weaker oil prices as worries about a second wave of COVID-19 infections and record high inventories outweighed signs of a recovery in fuel demand.
The rising number of coronavirus cases in the United States, China, Latin America and India has raised concerns among investors that it could derail the global economic recovery.
September futures on the S&P/TSX index were down 0.87% at 7:00 a.m. ET.
On Tuesday, the Toronto Stock Exchange’s S&P/TSX composite index ended 0.31% higher at 15,564.75.
Dow Jones Industrial Average e-mini futures were down 0.84%, while S&P 500 e-mini futures were 0.74% lower and Nasdaq 100 e-mini futures were down 0.43%.
Barrick Gold Corp will lay off most staff at its Porgera gold mine in Papua New Guinea, the mine’s operator said, a signal that an impasse with the government over ownership is unlikely to be resolved swiftly.
ANALYST RESEARCH HIGHLIGHTS
Cenovus Energy Inc: Citigroup raises price target to C$9 from C$7
Evertz Technologies Ltd: RBC cuts target price to C$14 from C$17
Horizon North Logistics Inc: Scotiabank raises rating to “sector outperform” from “sector perform”
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,784.3; +0.57%
US crude: $39.56; -2.01%
Brent crude: $41.89; -1.74%
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0900 Monthly home price MM for Apr: Prior 0.1%
0900 Monthly home price YY for Apr: Prior 5.9%
0900 Monthly Home Price Index for Apr: Prior 287.9
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$1.36) (Reporting by Amal S in Bengaluru; Editing by Subhranshu Sahu)
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