TSX Futures Slip On Vaccine Efficacy Issues; oil prices are dragging

Nov. 30 (Reuters) – Futures for the main Canadian stock index fell on Tuesday as doubts arose over the effectiveness of current COVID-19 vaccines against the Omicron variant, as lower oil prices further dampen appetite for the risk.

Warnings from US drugmakers Moderna (MRNA.O) and Regeneron Pharmaceuticals (REGN.O) that their COVID-19 vaccines and antibody cocktails may be less effective against the new variant of the coronavirus have intensified the selling pressure in global financial markets. Read more

The December S & P / TSX Index futures were down 1.0% at 7 a.m. ET.

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Ottawa Public Health said Monday evening that two more cases of Omicron had been detected in Ottawa, bringing the total number of cases in Canada to five. Read more

Oil prices also slipped on the news, seeking to put pressure on Canadian energy stocks after the open, while gold prices surged.

The Toronto Stock Exchange’s S & P / TSX Composite Index (.GSPTSE) ended up 0.1% on Monday.

Dow e-minis were down 398 points, or 1.13%, at 7:00 a.m. ET, while S&P 500 e-minis were down 44.25 points, or 0.95%, and e-minis Nasdaq 100 were down 95.5 points, or 0.58%.

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The Bank of Canada will work with Indigenous groups to understand the wounds caused by decades of discrimination and determine how reconciliation can create a more inclusive and prosperous economy for all, Governor Tiff Macklem said Monday. Read more

British Columbia government officials on Monday extended restrictions on fuel use by residents, saying it was needed for emergency vehicles as the area recovers from devastating flooding. Read more

Lululemon Athletica Inc (LULU.O) followed up on its threat to sue Peloton Interactive Inc (PTON.O) on Monday for the “copy products” of the exercise bike company’s new clothing line. Read more

PRODUCTS AT 7:00 a.m.ET

Gold Futures: $ 1,793.7; + 0.6%

American gross: $ 67.97; -2.89%

Brent crude: $ 71.09; -3.2%

FOR CANADIAN MARKET NEWS, CLICK ON THE CODES:

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($ 1 = 1.2769 Canadian dollars)

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Report by Shreyashi Sanyal in Bangalore; Editing by Shailesh Kuber

Our standards: Thomson Reuters Trust Principles.


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Felix J. Dixon