Sept 12 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Monday as oil prices fell after a report showed that U.S. drillers last week continued their streak of rig additions.
Oil prices were further pressured after OPEC on Monday raised its forecast of oil supplies from non-member countries in 2017 as new fields come online and U.S. shale drillers prove more resilient than expected to cheap crude.
September futures on the S&P TSX index SXFc1 were down 0.26 percent at 7:15 a.m. ET.
Canada's main stock index suffered its biggest loss since February on Friday, slumping to a five-week low as higher bond yields in major economies pressured global stock and commodity markets. Jones Industrial Average e-mini futures 1YMc1 were down 0.60 percent at 7:15 a.m. ET. S&P 500 e-mini futures ESc1 were down 0.59 percent and Nasdaq 100 e-mini futures NQc1 were down 0.75 percent. .N
(Morning News Call newsletter http://link.reuters.com/nex49s ; The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES TOP/CAN
Canada's Agrium Inc AGU.TO and Potash Corp of Saskatchewan Inc POT.TO said they would combine, a deal that would create a fertilizer and farm retailing giant with proforma enterprise value of $36 billion but also trigger U.S. regulatory scrutiny. RESEARCH HIGHLIGHTS RCH/CA
BRP Inc DOO.TO : CIBC raises target price to C$31 from C$28
Canadian National Railway Co CNR.TO : Barclays (LON:BARC) raises target price to C$89 from C$85
Suncor Energy Inc SU.TO : JP Morgan raises target price to C$40 from C$39
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1324.2; -0.44 percent GOL/
US crude CLc1 : $45.03; -1.85 percent O/R
Brent crude LCOc1 : $47.18; -1.73 percent O/R
LME 3-month copper CMCU3 : $4605; -0.6 percent MET/L
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