October 18, 2018 / 11:27 AM / a month ago

CANADA STOCKS-Futures lower as oil price drop weighs on energy shares

Oct 17 (Reuters) - Futures for Canada’s main stock index were marginally lower on Thursday, as a drop in oil prices led to losses in energy shares.

Oil slipped below $80 a barrel as an increase in U.S. crude inventories suggested ample supply, while Saudi-U.S. tension and falling Iranian exports lent support.

December futures on the S&P/TSX index were slightly down 0.08 percent at 7:10 a.m. ET.

The Toronto Stock Exchange S&P/TSX composite index closed down 49.84 points, or 0.32 percent, at 15,529.90 on Wednesday.

Dow Jones Industrial Average e-mini futures were down 0.26 percent at 7:10 a.m. ET, while S&P 500 e-mini futures were down 0.36 percent and Nasdaq 100 e-mini futures were down 0.48 percent.

TOP STORIES

Kinder Morgan Canada Ltd’s third-quarter profit surged as it recorded a one-time gain of C$1.31 billion from the sale of its TransMountain pipeline.

Private equity giant Blackstone Group has quit a takeover battle for Australian office-block owner Investa Office Fund after it was gazumped by Canadian landlord Oxford Properties Group’s A$3.35 billion bid.

ANALYST RESEARCH HIGHLIGHTS

Calfrac Well Services Ltd: JP Morgan cuts rating to underweight from neutral

Imperial Oil Ltd: National Bank of Canada raises price target to C$46 from C$45

Kinder Morgan Canada Ltd: CIBC cuts price target to C$16 from C$17

COMMODITIES AT 7:10 a.m. ET

Gold futures: $1223.9; fell 0.07 percent

US crude: $69.09; fell 0.95 percent

Brent crude: $79.18; fell 1.09 percent

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims for 13 Oct: Expected 212,000; Prior 214,000

0830 Jobless claims 4-week average for 13 Oct: Prior 209,500

0830 Continued jobless claims for 06 Oct: Expected 1.665mln; Prior 1.660 mln

0830(approx) Philly Fed Business Index for Oct: Expected 20.0; Prior 22.9

0830(approx) Philly Fed 6M Index for Oct: Prior 36.30

0830(approx) Philly Fed Capex Index for Oct: Prior 26.70

0830(approx) Philly Fed Employment for Oct: Prior 17.60

0830(approx) Philly Fed Prices Paid for Oct: Prior 39.60

0830(approx) Philly Fed New Orders for Oct: Prior 21.40

1000 Leading index change mm for Sep: Expected 0.5 pct; Prior 0.4 pct

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$1.30) (Reporting by Sourav Bose in Bengaluru; Editing by Arun Koyyur)

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