May 8 (Rueters) - Stock futures pointed to a lower opening for Canada's main stock index on Monday, weighed down by lower commodity prices.
Copper prices slid to a four-month low after data showed a sharp drop in imports in April into China, the world's biggest consumer. of aluminium, nickel, zinc and lead were also lower by between 0.5 percent and 1.2 percent.
Oil prices were little changed, but hovered near six-month lows as talks to extend a supply cut deal did little to soothe concerns about a glut amid a boom in U.S. drilling.
June futures on the S&P TSX index SXFc1 were down 0.25 percent at 7:15 a.m. ET.
On Friday, a rebound in commodity prices, especially oil, helped Canada's benchmark stock index notch its biggest advance in more than two months. Jones Industrial Average e-mini futures 1YMc1 were up 0.1 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.06 percent and Nasdaq 100 e-mini futures NQc1 were down 0.04 percent. .N
A report later in the day is expected to show Canadian housing starts slipped modestly in April, compared with March, but remained relatively robust. ECONCA
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TOP STORIES TOP/CAN
Canada's Hudson's Bay Co HBC.TO has hired a debt restructuring adviser to review potential options for combining its business with debt-laden U.S. department store operator Neiman Marcus Group, according to people familiar with the matter. Capital Group Inc HCG.TO , Canada's biggest non-bank mortgage lender, said the balance in its high-interest savings accounts (HISA) is expected to slump to about C$192 million ($140 million) on Monday, down 50 percent from a week ago. RESEARCH HIGHLIGHTS RCH/CA
Autocanada Inc ACQ.TO : CIBC cuts target price to C$19 from C$20
BCE Inc BCE.TO : JP Morgan raises target price to C$66 from C$64
Canadian Tire Corp CTCa.TO :Barclays (LON:BARC) raises target to C$180 from C$167; rating overweight
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1234; +0.75 percent GOL/
US crude CLc1 : $46.25; +0.06 percent O/R
Brent crude LCOc1 : $49.09; -0.02 percent O/R
LME 3-month copper CMCU3 : $5492.5; -1.66 percent MET/L
U.S. ECONOMIC DATA DUE ON MONDAY
1000 Employment Trends for Apr: Prior 131.4
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