Stock futures pointed to a lower opening for Canada's main stock index on Monday as oil, gold and other metal prices fall and downbeat Chinese and European data weigh on investor sentiment.
The S&P/TSX composite index plummeted 177.69 points, or 1.2%, to conclude Friday and the week at 14,744.75, with futures off 0.2%.
The Canadian dollar hiked 0.35 cents to 87.85 cents U.S. early Monday.
Canada still should return to a healthy budget surplus in the next fiscal year despite the precipitous slide in oil prices, Finance Minister Joe Oliver said on Sunday.
A Canadian Natural Resources pipeline has leaked about 60,000 litres of crude oil in northern Alberta after a "mechanical failure", the Alberta Energy Regulator said on Sunday.
Barclays cut the rating on Alimentation Couche-Tard to equal weight from overweight
NBF cut the rating on Penn West Exploration to underperform from sector perform.
ON BAYSTREET
The TSX Venture Exchange plummeted 13.58 points to 741.87
ON WALLSTREET
Futures plunged to begin December on Wall Street, after a weekend of bargains in the retail stores and at the gas pumps.
Ahead of the opening bell, futures for the Dow Jones Industrials slid 70 points, or 0.4%, to 17,742. Futures for the S&P 500 fell 10.25 points, or 0.5%, to 2,056, and futures for the NASDAQ plummeted 14.75 points, or 0.3%, to 4,323.50.
But the Dow and S&P 500 both ended up for the month of November.
ConocoPhillips, Chesapeake Energy, Schlumberger and Hess were among a roll call of oil producers and service companies under pressure again in pre-market trading.
Most major Asian markets ended with clear losses, except the Nikkei which was boosted by a weaker yen.
European indexes were also lower in early trading, taking a knock from new data that showed manufacturing activity slowed in November in Germany, France and Italy -- the euro-zone's top three economies.
Moody's cut its credit rating on Japan by one notch, citing concern about the government's ability to revive the economy and control its borrowing at the same time.
Gold prices are on the ropes after Swiss voters rejected a proposal to force the country's central bank to sharply increase the proportion of its reserves held in the metal.
Oil is tumbling again in the wake of OPEC's decision last week not to cut production to soak up a supply glut created by weaker world demand, strong U.S. output and quota-busting by some of the cartel's members.
Oil prices dropped 40 cents to $65.45 U.S. a barrel
Gold prices added $1.70 to $1,176.90 U.S. an ounce.
