Feb 2 (Reuters) - Canada's main stock index looked set to
start on a lower note on Tuesday after a sharp drop in oil
prices triggered caution among investors.
Oil prices fell more than 3 percent, dented by worries about
the demand outlook and rising supply, while hopes for a deal
between OPEC and Russia on output cuts faded.
March futures on the S&P TSX index SXFc1 were down 0.74
percent at 7:15 a.m. ET.
No major economic events are scheduled for the day ECONCA .
The Toronto Stock Exchange's S&P/TSX composite index lost
ground on Monday, with shares in energy companies weighing
heavily as oil prices tumbled and weak economic data out of
Europe and China exacerbated concerns about a global slowdown.
Dow Jones Industrial Average e-mini futures 1YMc1 were
down 0.61 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
Esc1 were down 0.65 percent and Nasdaq 100 e-mini futures
NQc1 were down 0.66 percent.
TOP STORIES
WestJet Airlines Ltd WJA.TO reported a smaller quarterly
profit, hurt by its large exposure to Alberta, where the economy
is weakening.
Canadian private equity investments overseas surged to
record levels in 2015 on the back of some major buyouts by
Canadian pension funds across a wide range of sectors, according
to data released on Monday.
Brookfield Asset Management Inc BAMa.TO has withdrawn an
offer to buy the 24.4 percent stake in infrastructure company
Invepar held by Brazil's Grupo, the Canadian firm said on
Monday.
AT 7:15 a.m. ET Gold futures GCc2 : $1,125.20; -0.24 pct
US crude CLc1 : $30.51; -3.51 pct
Brent crude LCOc1 : $32.80; -4.21 pct
LME 3-month copper CMCU3 : $4,597.50; +0.82 pct
ANALYST RESEARCH
Agnico Eagle Mines AEM.TO : Desjardins cuts rating to
"hold" from "buy"
Rona Inc RON.TO : Canaccord Genuity cuts target price to
C$13 from C$14; rating "hold"
Teranga Gold Corp TGZ.TO : CIBC cuts target price to C$0.50
from C$0.60
U.S. ECONOMIC DATA DUE ON TUESDAY
0855 Redbook mm: Prior -1.4 pct
0855 Redbook yy: Prior 1.0 pct
0945 ISM-New York Index for Jan: Prior 716.6
0945 ISM NY Biz Conditions for Jan: Prior 62
1330 Domestic car sales for Jan: Expected 5.50 mln; Prior
5.51 mln
1330 Domestic truck sales for Jan: Expected 8.20 mln; Prior
8.34 mln
1330 Total vehicle sales for Jan: Expected 17.40 mln; Prior
17.34 mln
1330 All car sales for Jan: Prior 7.40 mln
1330 All truck sales for Jan: Prior 9.94 mln
($1= C$1.40)