Futures for Canada's main stock index edged lower on Wednesday as oil prices fell due to a gloomier outlook for global economy and a report of rising U.S. crude inventories.
The S&P/TSX Composite Index leaped 79.92 points to end Tuesday at 16,330.67
The Canadian dollar slumped 0.29 cents at 76.33 cents U.S. early Wednesday
September futures slid 0.3% Wednesday
Constellation Brands said it would invest $4 billion more in Canopy Growth Corp, raising its stake in the Canadian marijuana producer to 38%.
Air France-KLM's board is likely to appoint Air Canada's chief operating officer Benjamin Smith as its new boss on Thursday, according to French media reports.
Canaccord Genuity raised the target price on Superior Plus Corp. to $13.75 from $13.50
Bernstein cut the target price on Nutrien Ltd. to $88.86 from $89.52
CIBC cut the target price on Tmac Resources to $8.50 from $10.50
On the economic calendar, statistics were due out Wednesday from the Canadian Real Estate Association (CREA) showing national home sales for July.
ON BAYSTREET
The TSX Venture Exchange erased 7.2 points to finish Tuesday’s session at 673.79
ON WALLSTREET
U.S. stock index futures came under pressure ahead of Wednesday's open as lingering concerns over Turkey's financial crisis weighed on investor sentiment.
Futures for the Dow Jones Industrials fell 149 points, or 0.6%, to 25,145
S&P 500 futures dipped 15.25 points, or 0.5%, to 2,825.75, while futures for the NASDAQ composite dropped 57.25 points, or 0.8%, to 7,400.50.
In earnings news, Macy's reported better-than-expected earnings, but the stock fell more than 5% in the pre-market.
MSG Networks Inc. and SpartanNash Company are also reporting earnings Wednesday.
A Turkish regulator said Wednesday it was limiting banks' currency swap transactions. The move is likely aimed at curbing short selling against the lira, which has recently taken a beating.
Overseas, in Japan, the Nikkei 225 slumped 0.7% while in Hong Kong, the Hang Seng index stumbled 1.6%.
Oil prices stumbled 65 cents to $66.39 U.S. a barrel.
Gold prices fell $6.40 to $1,194.30 U.S. an ounce.
