June 4 (Reuters) - Futures for Canada's main stock index
slipped on Tuesday as weakness in copper and oil prices weighed
down on the underlying stocks, while investors awaited the Bank
of Canada's interest rate decision on June 5.
June futures on the S&P/TSX index were down 0.8% at
6:41 a.m. ET (10:41 GMT).
The materials sector is expected be grab the spotlight, with
copper prices dipping below the key mark of $10,000 a metric ton
for the first time in three weeks, as consolidation continued
due to lacklustre demand from top consumer China.
Energy shares, which account for 20% of the Toronto market's
weighting, continued to be in focus as oil prices fell more than
$1 on Tuesday, extending losses from a four-month low in the
previous session.
Investors remained on edge ahead of the Canada's monetary
policy decision due on Wednesday, where the country's central
bank is widely expected to cut interest rates to 4.75%,a Reuters
poll of economists showed.
The yield on the Canadian 10-year benchmark bond
was down at 3.482%.
Among other data, investors will also keep a close eye on
the job openings data, due at 1000 ET, to assess the strength of
the American labor market.
Across the border, the U.S. stock index futures also fell as
doubts over the strength of the economy took hold and investors
awaited more data later in the week to gauge how much growth has
slowed.
The Toronto Stock Exchange's S&P/TSX composite index
had ended lower on Monday as a drop in oil prices
weighed down on energy stocks and offset gains in the
high-dividend paying utilities stocks.
In company news, Fairfax India Holdings Corp ( FFXDF ) on
Monday said Prem Watsa, popularly known as "Canada's Warren
Buffett", will step down as the investment firm's chairman.
COMMODITIES AT 6:41 a.m. ET
Gold futures: $2,340.9; -0.7%
US crude: $72.57; -2.2%
Brent crude: $76.86; -1.9%
($1= C$1.3693)