June 18 (Reuters) - Futures pointed to a lower opening for Canada's main stock index on Monday, tracking global shares and a slump in U.S. crude prices, on concerns of a spiraling trade spat between United States and China.
Trump announced tariffs on Friday on $50 billion of Chinese imports, while Beijing retaliated by slapping duties on American export products, including crude oil, and suspended all previous trade agreements with Washington. futures on the S&P/TSX index SXFc1 were down 0.41 percent at 7:15 a.m. ET.
The Toronto Stock Exchange's S&P/TSX .GSPTSE fell 14.54 points, or 0.09 percent, to 16,314.42, on Friday, but climbed 0.69 percent on the week, its second straight weekly gain. Jones Industrial Average e-mini futures 1YMc1 were down 0.74 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.63 percent and Nasdaq 100 e-mini futures NQc1 were down 0.71 percent. .N
TOP STORIES TOP/CAN
Oil and gas producer Baytex Energy Corp BTE.TO said it would buy rival Raging River Exploration Inc RRX.TO for about C$2.8 billion to expand in the oil-rich Duvernay field in Alberta. South32 Ltd S32.AX has bid $1.3 billion to take full control of Arizona Mining Inc AZ.TO , offering a hefty premium for the Toronto-listed firm which is developing zinc, lead, manganese and silver assets. Korea has suspended the sale of wheat and flour from Canada after the North American nation announced last week the discovery in mid-2017 of an unapproved genetically modified trait in Alberta province. RESEARCH HIGHLIGHTS RCH/CA
Arizona Mining AZ.TO : National Bank of Canada raises target price to C$6.20 from C$6
Canada Goose Holdings Inc GOOS.TO : CIBC raises price target to C$92 from C$48
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCcv1 : $1283.5; rose 0.39 percent GOL/
US crude CLc1 : $64.84; fell 0.34 percent O/R
Brent crude LCOc1 : $74.1; rose 0.9 percent O/R
LME 3-month copper CMCU3 : $6997; fell 0.33 percent MET/L
U.S. ECONOMIC DATA DUE ON MONDAY
1000 NAHB Housing Market Index for June: Expected 70; Prior 70
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($1= C$1.32)