Sept 9 (Reuters) - Stock futures pointed to a flat opening for Canada’s main stock index on Tuesday, with investors finding few reasons to buy in the absence of any major economic catalyst.
September futures on the S&P TSX index <0#SXF:> were up 0.02 percent at 0715 ET.
Housing starts data for August is due at 0830 ET.
Canada’s main stock index fell on Monday as weaker commodities prices, including oil’s drop below $100 a barrel, weighed on shares of energy and mining companies.
Dow Jones Industrial Average e-mini futures were up 0.09 percent at 0715 ET, while S&P 500 e-mini futures were up 0.07 percent. Nasdaq 100 e-mini futures were up 0.14 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Encana Corp will sell its remaining stake in PrairieSky Royalty Ltd, the company it spun out to investors in May, in a C$2.6 billion deal as it continues to raise funds to increase oil production.
Taseko Mines Ltd said on Monday it will buy mineral exploration and development company Curis Resources in an all-share deal, giving the Canadian miner access to the advanced-stage Florence copper project in central Arizona.
Gold miner Agnico-Eagle Mines Ltd has agreed to buy Cayden Resources Inc, a gold exploration company with projects in Mexico, for C$205 million in shares and cash, the two companies said on Monday.
COMMODITIES AT 0715 ET
Gold futures : $1,252.70; Flat
US crude : $93.44; +0.84 percent
Brent crude : $100.11; -0.10 percent
LME 3-month copper : $6,923.50; -0.93 percent
ANALYST RESEARCH HIGHLIGHTS
Athabasca Oil Corp : Barclays cuts target price to C$9.50 from C$10
Kirkland Lake Gold : Investec cuts rating to “reduce” from “hold”
U.S. ECONOMIC DATA DUE ON TUESDAY
0855 Redbook mm: Prior +0.7 pct
0855 Redbook yy: Prior +4.9 pct
1000 JOLTS Job Openings for Jul: Prior +4.67 mln
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$1= C$1.10 Reporting by Samarendra Sahoo in Bangalore; Editing by Sriraj Kalluvila
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