June 30, 2020 / 11:57 AM / 8 days ago

CANADA STOCKS-TSX futures drop on weaker oil prices

June 30 (Reuters) - Canada’s main stock index futures fell on Tuesday, dragged down by weaker oil prices on the back of rising coronavirus cases and simmering U.S.-China tensions.

A possible return of Libyan oil production, which has been down to a trickle since the start of the year, also hurt crude prices.

September futures on the S&P/TSX index were down 0.24% at 7:00 a.m. ET.

Data for Canada’s GDP for the month of April is due at 8:30 a.m. ET.

On Monday, the Toronto Stock Exchange’s S&P/TSX composite index ended 1.32% higher at 15,389.72.

Dow Jones Industrial Average e-mini futures were down 0.11% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.04% and Nasdaq 100 e-mini futures were down 0.03%%.

TOP STORIES

Canada is over the worst of the coronavirus outbreak but a spike in cases in the United States and elsewhere shows Canadians must remain vigilant as the economy reopens, Prime Minister Justin Trudeau said on Monday.

Canada’s Alimentation Couche-Tard Inc’s quarterly results beat estimates on Monday, as customers spent more per trip to its convenience stores, even as overall traffic declined due to the COVID-19 pandemic.

Canada’s Cirque du Soleil Entertainment Group filed for bankruptcy protection on Monday as the COVID-19 pandemic forced the famed circus operator to cancel shows and lay off its artistes.

ANALYST RESEARCH HIGHLIGHTS

Restaurant Brands International Inc: Jefferies raises target price to $53 FROM $47

Cineplex Inc: National Bank Of Canada cuts target price to C$8 from C$10

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,781.0; +0.03%

US crude: $39.3; -1.01%

Brent crude: $41.26; -1.08%

U.S. ECONOMIC DATA DUE ON TUESDAY

0900 Caseshiller 20 mm SA for Apr: Expected 0.5%; Prior 0.5%

0900 Caseshiller 20 mm NSA for Apr: Prior 1.1%

0900 Caseshiller 20 yy for Apr: Expected 4.0%; Prior 3.9%

0945 Chicago PMI for Jun: Expected 45.0; Prior 32.3

1000 Consumer Confidence for Jun: Expected 91.8; Prior 86.6

1030 Texas Service Sector Outlook for Jun: Prior -41.7

1030 Dallas Fed Services Revenues for Jun: Prior -28.1

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$1.37) (Reporting by Shivani Kumaresan in Bengaluru; Editing by Maju Samuel)

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