June 8 (Reuters) - Futures for Canada’s main stock index fell on Friday as oil prices dropped on waning Chinese demand and soaring U.S. production, offsetting Venezuelan and Iranian supply worries and OPEC-led production cuts.
June futures on the S&P/TSX index were down 0.13 percent at 7:15 a.m. ET.
Housing starts data is due at 08:15 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX rose 8.85 points, or 0.05 percent, to 16,192.78 points, on Thursday.
Dow Jones Industrial Average e-mini futures were down 0.54 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.49 percent and Nasdaq 100 e-mini futures were down 0.98 percent.
Airbus SE is set to close a deal to take a controlling stake in Bombardier Inc’s CSeries jetliner program, effective July 1, the companies said, in a move expected to kickstart the European planemaker’s ability to put its marketing and cost-cutting muscle into the Canadian plane program.
Canada’s Senate on Thursday voted to legalize recreational marijuana, clearing a major hurdle that puts the country on track to become the first Group of Seven nation to permit national use of the drug.
Oil producer BP Plc complained to Canada’s National Energy Board (NEB) regulator about Enbridge Inc’s implementation and then abrupt reversal of new rules for shipping crude on its Mainline pipeline system, NEB documents showed on Thursday.
ANALYST RESEARCH HIGHLIGHTS
Bombardier: Desjardins raises price target to C$6 from C$4.75
Canadian Western Bank: Barclays raises target price to C$38 from C$37
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1302.9; fell 0.01 percent
US crude: $65.59; fell 0.55 percent
Brent crude: $76.61; fell 0.92 percent
LME 3-month copper: $7266; fell 0.9 percent
U.S. ECONOMIC DATA DUE ON FRIDAY
1000 Wholesale Inventories (y), R mm for April: Expected 0.0 pct; Prior 0.0 pct
1000 Wholesale sales mm for April: Expected 0.3 pct; Prior 0.3 pct
1030 ECRI Weekly Index: Prior 148.7
1030 ECRI weekly annualized: Prior 3.0 pct
Canadian markets directory ($1= C$1.30) (Reporting by Debanjan Bose in Bengaluru; Editing by Shailesh Kuber)