May 3 (Reuters) - Stock futures pointed to a lower opening
for Canada's main stock index on Tuesday following a slide in
oil prices as rising output from the Middle East and Northern
Sea renewed concerns about global supply glut.
June futures on the S&P TSX index SXFc1 were down 1
percent at 7:15 a.m. ET.
Canada's main stock index fell on Monday as lower oil prices
weighed on energy stocks, offsetting a jump in shares of
Manitoba Telecom Services Inc MBT.TO on news of the company's
acquisition by BCE Inc BCE.TO .
Dow Jones Industrial Average e-mini futures 1YMc1 were
down 0.65 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
ESc1 were down 0.69 percent and Nasdaq 100 e-mini futures
NQc1 were down 0.7 percent.
No major Canadian economic releases are scheduled for the
day.
TOP STORIES
Oil and gas producer Encana Corp ECA.TO ECA.N posted a
bigger-than-expected quarterly loss due to lower production amid
a steep fall in oil prices.
WestJet Airlines Ltd WJA.TO reported a nearly 38 percent
fall in quarterly profit at a time of economic weakness in
oil-producing Alberta, where the airline mostly operates.
Freehold Royalties Ltd FRU.TO said on Monday it is buying
royalty interests from Husky Energy HSE.TO that represent
around 1,700 barrels of oil equivalent per day of western
Canadian production for C$165 million. AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1,294.60; -0.01 pct GOL/
US crude CLc1 : $44.33; -1.03 pct O/R
Brent crude LCOc1 : $45.52; -0.68 pct O/R
LME 3-month copper CMCU3 : $4,937.00; -2.24 pct MET/L
ANALYST RESEARCH HIGHLIGHTS
Canadian Tire CTCa.TO : NBF raises target to C$141 from
C$140; rating "sector perform"
CGI Group GIBa.TO : Canaccord Genuity starts coverage with
"buy" rating; price target C$68
Manitoba Telecom Services MBT.TO : Canaccord Genuity raises
target price to C$37 from C$30; rating "hold"
U.S. ECONOMIC DATA DUE ON TUESDAY
0945 ISM-New York Business Conditions Index for Apr:
Expected 721.0
0945 ISM NY Current Business Conditions Index for Apr: Prior
50.4
1330 Domestic car sales for Apr: Expected 5.30 mln; Prior
5.12 mln
1330 Domestic truck sales for Apr: Expected 8.30 mln; Prior
8.21 mln
1330 Total vehicle sales for Apr: Expected 17.25 mln; Prior
16.57 mln
1330 All car sales for Apr: Prior 6.91 mln
1330 All truck sales for Apr: Prior 9.66 mln
($1= C$1.26)