June 20 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Tuesday as oil prices hit seven-month lows after news of increases in supply by several key oil producers including Nigeria and Libya.
September futures on the S&P TSX index were down 0.25 percent at 7:15 a.m. ET.
Canadian wholesale trade data for April is due at 8:30 a.m. ET.
Canada’s benchmark stock index rose on Monday, extending its recovery from a six-month low last week, as heavyweight financial shares rallied and after Hudson’s Bay Co got a boost from an investor request that the company explore strategic options.
Dow Jones Industrial Average e-mini futures were down 0.01 percent at 7:15 a.m. ET. S&P 500 e-mini futures were down 0.01 percent and Nasdaq 100 e-mini futures were up 0.22 percent.
Cenovus Energy Inc said on Tuesday it would sell $4 billion to $5 billion in non-core assets to reduce debt after it paid about C$17 billion last month to buy ConocoPhillips’ western Canadian oil sands assets.
Canada’s Finance Minister Bill Morneau said on Monday he had discussed with his provincial counterparts whether more actions are needed to ensure the stability of the country’s housing market.
Canadian plane and train manufacturer Bombardier Inc has signed a $1.14 billion contract to supply passenger trains to the two new operators of Britain’s South Western rail franchise.
ANALYST RESEARCH HIGHLIGHTS
Air Canada: CIBC raises target price to C$20.50 from C$19.50
Aimia Inc: Raymond James cuts price target to C$6 from C$7
Kinder Morgan Canada Ltd: National Bank Of Canada starts with a “sector perform” rating; price target C$17
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,246.4; -0.02 pct
US crude: $43.33; -1.97 pct
Brent crude: $46.30; -1.76 pct
LME 3-month copper: $5,699.00; -0.44 pct
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 Current account for Q1: Expected -128.8 bln; Prior -112.4 bln
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$1.32 Reporting by Benny Thomas in Bengaluru; Editing by Sai Sachin Ravikumar
Our Standards: The Thomson Reuters Trust Principles.